The Role of Principles and Rules of Public International Law in Relation to the Activities of Central Banks and Their Challenges
Document Type : Original Article
Authors
1
Assistant Professor, Department of Law, Faculty of Law, Shahrood Branch, Islamic Azad University, Shahrood, Iran.
2
Advisor Central Bank of Islamic Republic of Iran, Tehran, Iran.
Abstract
Central banking, as one of the most important governmental activities, is associated with various dimensions of public international law. Although it may initially seem that central banking as an economic activity has little to do with the principles and rules of public international law, a closer examination of the activities of central banks shows that international law plays an important role in their proper and appropriate functioning. Central banks, due to their multiple and diverse international activities, are repeatedly confronted with international legal issues, so it is necessary for the officials and governors of central banks to have a proper understanding of international law. This article attempts to explain this connection by describing the various activities of central banks. Additionally, legal disputes between governments sometimes lead to disputes over the foreign assets of central banks. Considering the direct connection of this issue with public international law, an effort has been made to give more attention to this subject by explaining some of the latest developments related to the immunity of central bank assets in more detail. Generally, the findings of this article indicate that the principles and rules of public international law play an important role in various dimensions of central banking activities, and neglecting these principles and rules can lead to harmful consequences.
Keywords
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