Article 14 of the Saudi Central Bank Law
المادة 14 من نظام البنك المركزي السعودي · الفصل الثاني: الإدارة مجلس الإدارة
The Governor has two full-time deputies who assist him; the Board sets their duties on his recommendation, they do not take part in deliberating or voting on decisions, they are appointed at the excellent grade, and one stands in for the Governor in his absence.
Official text after amendments (Arabic)
Compiled from the original text and every officially published amendment; the amendments are shown in full below for comparison.
1- يكون للمحافظ نائبان متفرغان يعاونانه في أداء مهماته ومسؤولياته. ويحدد المجلس بقرار منه اختصاصات كل منهما وصلاحياته ومهماته بناء على توصية من المحافظ. ولا يشارك أي من النائبين في مداولات القرار ولا في التصويت عليه.
2- يعين نائبا المحافظ بالمرتبة الممتازة بناءً على اقتراح من المحافظ،وتحديد مزاياهما بأمر ملكي.
3- يكلف المحافظ أحد النائبين ليحل محله عند غيابه.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 14 explained in plain English
This article regulates the two deputies of the Central Bank's Governor:
- Number and full-time status (1): the Governor has two full-time deputies who assist him in performing his tasks and responsibilities.
- Their duties (1): the Board sets them by decision, on the recommendation of the Governor.
- An important restriction (1): neither takes part in the deliberation of a decision or in voting on it.
- Appointment (2): they are appointed at the excellent grade on the Governor's proposal, and their benefits are set by Royal Order.
- Standing in (3): the Governor assigns one of the two deputies to take his place in his absence.
The article took its current form by Council of Ministers Resolution No. 412 dated 28/7/1443 AH.
The deputies' work is tied to Article 13, which makes the Governor a full-time official with the rank of minister, who is the executive responsible for managing the Bank; his tasks include implementing the Board's decisions, representing the Bank before the courts, concluding agreements and contracts, and appointing employees. If the Governor is absent, the deputy he assigns takes his place under paragraph 3.
It is followed by Article 15, which provides that the Bank's employees are not held liable for performing their duties under the Law, except in cases of bad faith or serious breach.
The article does not set how duties are divided between the two deputies; that is left to the Board's decision.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 14 of the Saudi Central Bank Law
How many deputies does the Saudi Central Bank's Governor have?
Two full-time deputies who assist the Governor in performing his tasks and responsibilities.
Who takes the Central Bank Governor's place in his absence?
One of the two deputies, whom the Governor assigns to do so.
Does the Governor's deputy vote on Board decisions?
The article provides that neither deputy takes part in deliberating or voting on a decision.
Amendment history
Amendment — 28/7/1443 AH
Official amendment text (Arabic)
- عُدلت هذه المادة وذلك بموجب قرار مجلس الوزراء رقم (412) وتاريخ 1443/7/28هـ، لتكون بالنص الآتي:
1- يكون للمحافظ نائبان متفرغان يعاونانه في أداء مهماته ومسؤولياته. ويحدد المجلس بقرار منه اختصاصات كل منهما وصلاحياته ومهماته بناء على توصية من المحافظ. ولا يشارك أي من النائبين في مداولات القرار ولا في التصويت عليه.
2- يعين نائبا المحافظ بالمرتبة الممتازة بناءً على اقتراح من المحافظ،وتحديد مزاياهما بأمر ملكي.
3- يكلف المحافظ أحد النائبين ليحل محله عند غيابه.
Original text before the amendments (Arabic)
1- يكون للمحافظ نائب متفرغ يعاونه في أداء مهماته، ويحل محله في حال غيابه أو خلو منصبه؛ وذلك لتسيير أعمال البنك.
2- يعين نائب المحافظ بالمرتبة الممتازة بناءً على اقتراح المحافظ، وتحدد مزاياه بأمرٍ ملكي.
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The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.