Article 8
| No: M/36 | Date(g): 26/11/2020 | Date(h): 11/4/1442 | Status: In-Force |
| 1. | The Bank shall have a board of directors composed of the following: | |
| a) | The Governor, Chairman. | |
| b) | Two Vice Governors, members. | |
| c) | Five non-government employees, members. 1 bis-If the Governor is unable to chair a Board meeting, he shall assign one of the Vice Governors to chair the meeting. | |
| 2. | Nomination of Board members referred to in paragraph 1(c) of this Article shall be made jointly by the Governor and the Minister of Finance; their appointment shall be pursuant to a royal order, and their membership shall be for a renewable term of seven years. If a member’s term expires without his membership being renewed or a replacement being appointed, he shall continue to serve as a Board member. | |
| 3. | The remuneration and benefits of Board members shall be determined pursuant to a royal order upon the recommendation of the Minister of Finance in coordination with the Governor. | |