Effective from Nov 26 2020 - Nov 25 2020 To view other versions open the versions tab on the right
1.
The Bank shall have a board of directors composed of the following:
a)
The Governor, Chairman.
b)
The Vice-Governor, Vice-Chairman.
c)
Five non-government employees, members.
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.
