Stanley Fischer, the governor of the Bank of Israel, on Tuesday appointed a search committee to find a replacement for Rony Hizkiyahu, the central bank's supervisor of banks.

Hizkiyahu has not given a reason for his departure. The role does not have a fixed term.

The central bank noted the "determined steps" taken by Hizkiyahu in strengthening banks' capital adequacy, risk management and corporate governance standards. Fischer on Tuesday added that Hizkiyahu had met complex targets and mapping