Israel’s main investment houses have joined the banks in calling for dialogue on the changes in the legal system being introduced by the government. The heads of the eight largest investment houses signed a letter sent to Minister of Justice Yariv Levin and Leader of the Opposition Yair Lapid yesterday. "We call on all sides to enter into immediate, sincere and serious dialogue, without dictates and preconditions," the letter says.
The letter states that the aim should be "to reach compromises and an agreed formula on the issues in dispute, in a way that will preserve the independence of the system of justice and the certainty and stability that the economy and the financial system require, on the basis of the outline presented by the president of the state, Isaac Herzog."
The letter is signed by Meitav Investment House CEO Ilan Raviv, who is also chairperson of the Association of Investment Houses; Altshuler Shaham CEO Ran Shaham; IBI Investment House CEO David Lubetzky; Yelin Lapidot CEO Yair Lapidot; Psagot CEO Yohan Kadoche; The Phoenix Investment House (formerly Excellence) chairperson Boaz Nagar; Epsilon Investment House founder and CEO Shmuel Frenkel; and More Investment House co-founder and CEO Yosi Levy.
"In recent days we, as leaders of the financial system, have observed with concern the consequences of the uncertainty for the financial markets and the public’s savings, and so we call on all sides to show responsibility and leadership in order to maintain the stability and the social and economic conditions that have made possible the economy’s impressive growth in the past twenty years. In our view, there is supreme importance in reaching an agreed plan (even if it is not perfect in the eyes of some people). Achieving such a plan with the broadest possible support will benefit Israeli society and the Israeli economy and will promote economic and legal stability in Israel," the letter states.
Published by Globes, Israel business news - en.globes.co.il - on February 20, 2023.
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