Central Bank Governance and Operations in the MECA Region The Legal Foundations of Oversight Boards Background Notes no. 2 to Departmental Paper DP/21/01
Central Bank Governance consists of four interlinked, key concepts that define who is granted decision making power and for what objectives, how decisions are taken, and how account is rendered to relevant stakeholders. As such, these concepts focus on (i) the central bank's mandate, (ii) its decision making structures, (iii) its autonomy, and (iv) its accountability and transparency (see Figure 1)