The police's recommendations will be transferred to the State Prosecutor's Office.
Olmert is suspected of altering a government tender for the privatization of Bank Leumi during his tenure as acting finance minister two years ago to favor a bid lodged by a consortium controlled by his friends, Frank Lowy and Daniel Abrams.
The decision followed a three-and-a-half hour meeting between the investigators assigned to the case and head of police investigations and intelligence Major General Yohanan Danino.
Police reported that the Leumi affair was thoroughly investigated. Statements were collected from the various parties involved, some of which were investigated under warning.
Searches were conducted in the office belonging to the attorneys that dealt with the issue, as well as in the Treasury Ministry, and the Ministry of Trade, Industry, and Labor. Documents were subpoenaed from investment banks, law offices, the Bank of Israel, and media firms. Additionally, two judicial inquiries were carried out in the United States and Australia.
Police further reported that the investigators spared no effort to reach every last piece of evidence that seemed relevant.
The prime minister, who was questioned twice over this affair, received word of the police's recommendation just hours after returning to Israel from the Annapolis conference.
The publication of the police's recommendation was pushed back from last Sunday due to the peace summit.
The prime minister is currently facing three more investigations, one regarding the sale of his house on Cremieux Street and the two others regarding his tenure as trade, industry and labor minister.