Fernandez expects the matter to be resolved by the end of March
Israel coach Luis Fernandez has been suspended from football with immediate effect by world governing body Fifa.
He has a long-standing dispute over a debt allegedly owed to Qatari club Al Rayyan, who he coached in 2005.
Fifa claims the 51-year-old Frenchman has not obeyed a November 2009 ruling by its disciplinary committee.
Fernandez, who took the Israel job last March, says he expects the problem will be resolved before his side's Euro 2012 qualifying matches next month.
The Israeli Football Association (IFA) said it received an "official request" from Fifa asking it to ensure Fernandez "cease all football-related activities immediately due to a failure to pay a debt to a team he coached in the past in Qatar."
The chairman of the IFA, Eli Luzon, said he expects the issue to be resolved after a meeting with Fernandez.
"Next week I will meet with Luis Fernandez and decide together how to solve the problem that was created," Luzon said in a statement.
Fernandez added: "This is a long-standing legal dispute. I am sure that things will work before the next set of matches at the end of March."
Fernandez played 60 times for France and was a member of the side that won the 1984 European Championship title.
He also coached Paris Saint-Germain to the 1996 Cup Winners' Cup but his time in charge of Israel's national team has not been so successful throughout his 11-month tenure.
With only one win in Euro 2012 qualifying, over Group F's bottom side Malta, Israel currently have four points from four games.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.