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Stanley Fischer: Israel needs to keep talented people in the country |
Bank of Israel Governor Stanley Fischer has admitted new proposals to reduce ownership concentration in Israel’s private sector could discourage investment in the country.
A Bank of Israel report in May drew attention to the small number of family conglomerates in control of a relatively large proportion of Israel’s biggest companies. The report gave ideas on how to counter the groups’ sway.
One proposal was a tax on dividend transfers to deal with so-called pyramid-style structures of hierarchical interlocking ownership.
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