UAE Central Bank and Financial Institutions Decree-Law

Article 17 — Article (17) Formation of Committees and Delegation of Authorities

Part One: The Central Bank · Chapter Three: Management of the Central Bank · Section One

1. The Board of Directors may form committees it deems appropriate to assist in the discharge of its functions and jurisdictions in accordance with the provisions of this decree-law.  2. Such committees referred in item (1) of this article may be formed from within the Board of Directors, or from outside the Board of Directors. The Board of Directors may also form advisory boards and committees, which include in their membership Persons from outside the Central Bank, and shall determine the remunerations of members of such boards and committees.  3. The Board of Directors may delegate some of its powers to any committee within the Board of Directors, the Chairman, the Governor, senior executives, or whomsoever deemed appropriate within the Central Bank. 4. The Board of Directors may annually review the terms of reference, performance of the committees, and advisory boards formed in accordance with the provisions of this article, and may take necessary actions to ensure compliance with professional and international standards, codes of conduct and governance.

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