1. The Central Bank shall be considered a federal public institution having its own body corporate, and enjoying financial and managerial independence, and the required juridical capacity to conduct all business and activities, which ensure attainment of its objectives. The Central Bank shall directly report to the President of the State. 2. The Central Bank shall not be subject to the provisions of laws relating to public finance, tenders and auctions, public accounts and ‘Federal Human Resources’, and its own regulations in these respects shall apply. 3. The functions of the ‘UAE Accountability Authority’ shall be confined to post audit and it shall have no right to interfere in the running of the Central Bank business, or challenge its policies.
Interpretation and application must be checked against the official text and current version.