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Prime Minister Benjamin Netanyahu Photo: GPO
Prime Minister Benjamin Netanyahu Photo: GPO

Netanyahu mulls investment portfolio changes

PM reportedly obtains permission to alter personal investment portfolio over 'changes in global economy.' PMO says move suspended 'to prevent misinterpretation'

Aviel Magnezi
Published: 08.27.12, 11:13 / Israel Business

Prime Minister Benjamin Netanyahu has recently sought permission from the Authorizations Committee to make several changes to the makeup of his investment portfolio, citing "drastic changes in the global economy," Ynet learned Monday.


The Authorizations Committee, which operates by proxy of the State Comptroller's Office, granted the request, which was filed according to a legal stipulation meant to prevent a conflict of interest by State officials who have investment portfolios.

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According to the law, Knesset members and ministers are required to entrust their portfolios to a third party when they take office. Any change they wish to make in their investments while in office requires the Authorizations Committee's permission.


The committee decided to grant Netanyahu's request after accepting the PM's motion, which claimed that "The drastic changes in global economy, as well as in the Israeli one, allow for permission to make some changes, as requested."


However, the Prime Minister's Office said that the request – which is still pending a final ratification by the cabinet – was withdrawn, "To prevent any possible misinterpretation of the move."


"Unlike other Israeli citizens, the prime minister is not allowed to make any change to his investment portfolio while in office.


"The advisory committee determined that given the (economic) situation, such a change 'is needed' – as it said – and that the cabinet will have to ratify the decision as well.


"Despite the authorization, the prime minister informed the State Comptroller's Office last week that the decision should be made by the next government, once it is formed, in order to prevent any possible misinterpretation of the move," the Prime Minister's Office said.




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