This page contains all information relating to implementation of the OECD Anti-Bribery Convention in Israel.
Israel is not sufficiently proactive in detecting and investigating foreign bribery, with no prosecutions over the past 7 years, despite 14 allegations of foreign bribery involving Israeli individuals or companies. The OECD Working Group on Bribery is, however, encouraged by the recently-opened investigations, and will pay close attention to how these evolve.
Institutional investors (investment funds, insurance companies and pension funds) are major collectors of savings and suppliers of funds to financial markets. Their role as financial intermediaries and their impact on investment strategies have grown significantly over recent years along with deregulation and globalisation of financial markets.
This publication provides a unique set of statistics that reflect the level and structure of the financial assets of institutional investors in the OECD countries, and in the Russian Federation. Concepts and definitions are predominantly based on the System of National Accounts. Data are derived from national sources.
Data include outstanding amounts of financial assets such as currency and deposits, securities, loans, and shares. When relevant, they are further broken down according to maturity and residency. The publication covers investment funds, of which open-end companies and closed-end companies, as well as insurance corporations and autonomous pension funds. Indicators are presented as percentages of GDP allowing for international comparisons, and at country level, both in national currency and as percentages of total financial assets of the investor. Time series display available data for the last eight years.
The economic crisis that started in 2007 gave rise to a crisis of legitimacy and a widespread collapse of trust in markets, in firms, and in the governance of our economies. We need to build up that trust again and the OECD Guidelines for Multinational Enterprises and the OECD Anti-Bribery Convention are essential tools for fighting bribery and promoting responsible corporate behaviour.
Israel should be more proactive in detecting, investigating and prosecuting foreign bribery cases, notably those involving the defence industry, according to a new report by the OECD Working Group on Bribery.
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This report outlines Israel's response to the recommendations and follow-up issues identified by the Working Group at the time of Israel's Phase 2 examination in June-July 2009.
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This report evaluates whether the legal texts through which Israel has implemented the Anti-Bribery Convention meet the standards set by the Convention and 1997 Revised Recommendation, and highlights actions to implement the 1996 Recommendation on the tax deductibility of bribes to foreign public officials. The report also describes features of Israel's framework for enforcing the Anti-Bribery Convention. The Working Group found that
On 11 March 2009, Israel became the 38th signatory to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
Israel has officially joined the OECD Working Group on Bribery, an important step in its accession to OECD membership. Israel becomes the 38th signatory and first Middle-Eastern country to join the OECD’s Anti-Bribery Convention.
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The government of Israel has accepted an invitation from OECD countries to adhere to the OECD Declaration on International Investment and Multinational Enterprises, marking their recognition of its general openness to foreign direct investment an...