Bejski Commission
The Bejski Commission (Hebrew: ועדת בייסקי) was a National Commission of Inquiry established by the Israeli government on January 7, 1985. Headed by the Supreme Court justice Moshe Bejski,[1] its remit was to examine events surrounding the 1983 Tel Aviv stock market crash, which led to a financial crisis and the nationalization of most of Israel's major banks. It issued a report on April 16, 1986, which concluded that major Israeli banks had been rigging the price of bank shares over a long period and called for the dismissal or resignation of many of the heads of the Israeli banking system.[2]
Moshe Mendlelbaum, then governor of the Bank of Israel, resigned; Ernst Jephet of Bank Leumi retired with a $5 million agreement; Rafael Recanti refused to resign as head of the Discount Bank, threatening to provoke a banking crisis by withdrawing deposits from the Bank of Israel.[3]
