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  • B- The Governor, Vice-Governors, and Bank Staff

    No: M/36 Date(g): 26/11/2020 | Date(h): 11/4/1442Status: In-Force

    • Article 13

      The Bank shall have a full-time governor at the rank of Minister; his appointment and benefits shall be determined pursuant to a royal order. The Governor shall manage the Bank’s activities, implement its policies, and carry out its duties. He shall also carry out, in accordance with this Law, any other activities he deems necessary and appropriate, particularly the following: 
       
      1.Implementing Board decisions.
      2.Providing periodic reports to the Board regarding Bank operations, activities, and achievements.
      3.Providing recommendations to the Board regarding matters falling within its jurisdiction.
      4.Representing the Bank before the judiciary and in its relationship with others, and he may delegate such duty.
      5.Carrying out Bank duties and exercising its powers according to the guidelines and authority matrix endorsed by the Board.
      6.Proposing Bank strategies and operational plans.
      7.Concluding agreements and contracts.
      8.Appointing Bank staff, contracting with experts and consultants within the Kingdom or abroad, and determining their benefits, subject to Board endorsement.
      9.Establishing cash centers and appointing agents and correspondents.
       
      The Governor may delegate some of his powers to whomever he deems fit from among Bank staff. 
       

    • Article 14

      1.The Governor shall have two full-time Vice Governors to assist him in the discharge of his duties. The Board shall, upon a recommendation by the Governor, issue a decision specifying the powers, functions, and duties of each Vice Governor. The Vice Governors shall not participate in deliberations involving such decision nor vote thereon.
      2.The Vice Governors shall, upon the recommendation of the Governor, be appointed at grade ‘Excellent’; their benefits shall be determined pursuant to a royal order.
      3.The Governor shall, in his absence, assign one of the Vice Governors to serve as acting governor.

    • Article 15

      Bank staff may not be subject to any liability or claim due to carrying out their duties in accordance with this Law, except in cases of bad faith or gross breach.