JERUSALEM  — Karnit Flug, deputy governor of the Bank of Israel, was picked to move up to the top spot and if confirmed will be the first woman to be the central bank’s governor.

Her appointment was announced Sunday by Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid. The deputy governor since July 2011, Flug has been acting governor since Stanley Fischer stepped down June 30. Fischer recommended Flug as his replacement.

Her appointment came after two would-be appointees withdrew their names after embarrassing personal information came to light.

Lawrence Summers, a former U.S. Treasury secretary and president of Harvard University, also reportedly turned down the post last week.

Flug had resigned after being passed over to replace Fischer. Her nomination must be confirmed by the Knesset.

Flug earned a PhD in economics from Columbia University in 1985 and worked at the International Monetary Fund before joining the Bank of Israel in 1998.

She joins Janet Yellen of the United States as landmark picks to lead the central banks of their countries. Yellen, who is Jewish, was appointed this month as chief of the Federal Reserve and if confirmed would be its first female chief.