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Central Bank employee restrictions under law
The Central Bank Law aims to promote integrity and transparency and prevent conflicts of interest among bank employees. It restricts their participation in the boards of directors of authorized entities, with limited exceptions for banks in which the bank or public authorities have holdings. The law also sets conditions for emergency funding to banks with low liquidity, such as requiring the funding to be necessary to maintain the banking system, limiting the duration to no more than one year, ensuring adequate guarantees, and setting an interest rate higher than the average market rate. Additionally, the law regulates the Central Bank’s responsibilities regarding currency issuance and monetary policy, reserve management, exchange rate regulation, and supervision of financial institutions, all aimed at maintaining the stability of the financial system and the national economy.
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