Financial centre of Israel (3,4)
I believe the answer is:
tel aviv
'financial centre of israel' is the definition.
(I've seen this before)
This is all the clue.
(Other definitions for tel aviv that I've seen before include "city on the Mediterranean coast" , "Israeli city on the Mediterranean" , "Capital of Israel" , "Second largest city of Israel" , "City with vile vat for more of 13 Across" .)