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Quest Training

Central Bank Mandates, Governance & Operations Training Course

Examines how central banks are mandated, governed and held to account, comparing institutional models, monetary operations, lender of last resort and oversight.

GAR · Banking Governance, Audit & Regulatory FrameworksAll Levels#2957ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Sectors:Finance, Investment & BankingCategories:Banking Governance, Audit & Regulatory Frameworks

Course Overview

Central banks sit at the heart of every modern financial system. They issue the national currency, set monetary conditions, provide liquidity to banks and, in many jurisdictions, supervise the banking sector itself. Over time their role has evolved from government banker and note issuer into independent, rule-based institutions with explicit mandates for price stability and, increasingly, financial stability. This course gives participants a structured understanding of how central banks are designed, empowered and held to account, and of the legal and institutional choices that determine their effectiveness and credibility. Participants will examine single and dual mandates, the institutional, functional, personal and financial dimensions of central bank independence, and the accountability and transparency arrangements that give that independence its legitimacy. The course analyzes central bank laws and governance structures, including boards, monetary policy committees and the relationship with government and the ministry of finance, and compares institutional models such as integrated and separate supervisors, twin peaks, currency boards and the pegged exchange rate regimes familiar across the Gulf. The program then turns to the central bank's operating toolkit at a conceptual level: policy rates, open market operations, reserve requirements, standing facilities and day-to-day liquidity management, together with the lender of last resort function and emergency liquidity assistance. It also covers the central bank's roles in banking supervision, macroprudential policy, bank resolution and payment systems oversight, as well as balance sheet management, financial risk and financial reporting. Digital money is addressed briefly as an emerging issue, since central bank digital currencies are treated in depth in a dedicated course. Through comparative case studies, reviews of legal provisions, governance exercises and crisis scenario discussions, participants learn to read a central bank law critically, test the coherence of mandates, powers and safeguards, and contribute with confidence to institutional reform, policy coordination between monetary and fiscal authorities, and crisis preparedness within their own organizations.

Learning Objectives

  • Analyze the evolution and core functions of central banks and the economic rationale for delegating monetary authority by the end of the course.
  • Evaluate single, dual and hierarchical mandates covering price stability, financial stability and supporting objectives.
  • Assess the institutional, functional, personal and financial dimensions of central bank independence and their legal safeguards.
  • Examine central bank laws, governance structures, decision-making committees and relations with the ministry of finance.
  • Compare institutional models, including integrated and separate supervisors, twin peaks, currency boards and pegged exchange rate regimes.
  • Explain monetary policy frameworks and instruments, including policy rates, open market operations, reserve requirements and standing facilities.
  • Apply the principles of lender of last resort and emergency liquidity assistance, including collateral, pricing and solvency safeguards.
  • Evaluate the central bank's roles in banking supervision, macroprudential policy, bank resolution and payment systems oversight.
  • Assess central bank balance sheets, financial risk management, profit distribution rules and financial reporting.
  • Develop recommendations that strengthen accountability, transparency and institutional resilience before course completion.

Who Should Attend

This course is designed for professionals working in central banks, monetary authorities, financial supervisory agencies, ministries of finance and economy, deposit insurance and resolution authorities, and government bodies involved in financial sector policy. It is particularly valuable for governors' office staff, board secretariats, legal counsel, monetary policy and market operations specialists, financial stability analysts, banking supervisors, payment systems overseers, central bank finance and risk managers, and internal auditors. The program is equally valuable for treasury and asset and liability management professionals in commercial and Islamic banks, regulatory affairs managers, economists, policy advisors, public sector officials, consultants and researchers who need a clear understanding of how central banks set policy, provide liquidity and exercise their legal powers. Professionals preparing for roles in central bank reform, legal drafting or institutional governance will benefit most.

Learning Outcomes

  • By the end of this course, participants will be able to:
  • Explain the core functions of central banks and how their role has evolved over time.
  • Distinguish between single, dual and hierarchical mandates and assess their policy implications.
  • Evaluate the legal safeguards that support central bank independence, accountability and transparency.
  • Interpret the governance provisions of central bank laws, including boards, committees and relations with government.
  • Compare integrated, separate and twin peaks models and judge their suitability for different financial systems.
  • Assess how currency boards and pegged regimes shape monetary policy and liquidity management.
  • Describe the purpose and design of policy rates, open market operations, reserve requirements and standing facilities.
  • Apply lender of last resort principles to emergency liquidity decisions under stress.
  • Analyze the central bank's roles in supervision, macroprudential policy, resolution and payment systems oversight.
  • Review central bank balance sheets, risk management practices and financial reports to identify governance weaknesses.

Course Outline

Course Outline:

Day 1

Role, Evolution and Mandates of Central Banks

  • Historical evolution and core functions of central banks
  • Price stability, financial stability and secondary objectives
  • Single, dual and hierarchical mandates in law
  • Inflation targeting, exchange rate anchors and other frameworks
  • Practical application: Mapping the mandate and functions in a central bank law
Day 2

Independence, Accountability and Central Bank Law

  • Institutional, functional, personal and financial independence
  • Accountability, transparency and communication with the public
  • Governance structures: the board, policy committees and the governor
  • Relationship with government, fiscal dominance and limits on monetary financing
  • Practical application: Reviewing governance provisions in a model central bank law
Day 3

Institutional Models and Monetary Operations

  • Integrated, separate and twin peaks supervisory models
  • Currency boards, pegged regimes and their implications for the Gulf
  • Policy rates, open market operations and reserve requirements
  • Standing facilities, the interest rate corridor and liquidity forecasting
  • Practical application: Designing liquidity management under a currency peg
Day 4

Financial Stability, Lender of Last Resort and Payment Oversight

  • Lender of last resort principles and emergency liquidity assistance
  • Central bank roles in banking supervision and macroprudential policy
  • Bank resolution powers and coordination with deposit insurers
  • Payment systems and financial market infrastructure oversight
  • Practical application: Simulating an emergency liquidity request from a distressed bank
Day 5

Balance Sheet, Risk Management and Emerging Issues

  • Central bank balance sheet structure and its policy drivers
  • Financial risk management, capital and profit distribution rules
  • Financial reporting, external audit and the audit committee
  • Emerging issues: digital money, climate risk and evolving mandates
  • Final workshop: Assessing a central bank's resilience and accountability

Upcoming Dates

Selected date

Dammam · 21 – 25 Feb 2027 · Classroom

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CityDatesPrice per ParticipantEarly Bird
KigaliScheduled
2 – 6 Nov 2026€5,100—
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Kuala LumpurScheduled
9 – 13 Nov 2026€4,400—
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LisbonScheduled
16 – 20 Nov 2026€5,400—
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LondonScheduled
16 – 20 Nov 2026€5,600—
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MadinahScheduled
23 – 27 Nov 2026€4,200€3,780until 2 Nov
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MadridScheduled
30 Nov – 4 Dec 2026€5,400€4,860until 9 Nov
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MakkahScheduled
30 Nov – 4 Dec 2026€4,200€3,780until 9 Nov
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ManamaScheduled
7 – 11 Dec 2026€4,700€4,230until 16 Nov
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MarbellaScheduled
14 – 18 Dec 2026€5,400€4,860until 23 Nov
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OnlineScheduled
20 – 24 Dec 2026€1,700€1,530until 30 Nov
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MuscatScheduled
21 – 25 Dec 2026€5,300€4,770until 30 Nov
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ParisScheduled
28 Dec 2026 – 1 Jan 2027€5,700€5,130until 7 Dec
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AccraScheduled
4 – 8 Jan 2027€5,100€4,590until 14 Dec
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AbujaScheduled
4 – 8 Jan 2027€5,100€4,590until 14 Dec
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AmmanScheduled
10 – 14 Jan 2027€3,100€2,790until 21 Dec
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BakuScheduled
18 – 22 Jan 2027€4,800€4,320until 28 Dec
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AmsterdamScheduled
18 – 22 Jan 2027€5,400€4,860until 28 Dec
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BangkokScheduled
25 – 29 Jan 2027€6,100€5,490until 4 Jan
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BarcelonaScheduled
1 – 5 Feb 2027€5,400€4,860until 11 Jan
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CairoScheduled
7 – 11 Feb 2027€3,300€2,970until 18 Jan
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BeirutScheduled
7 – 11 Feb 2027€4,000€3,600until 18 Jan
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Cape TownScheduled
15 – 19 Feb 2027€5,100€4,590until 25 Jan
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DammamScheduled
21 – 25 Feb 2027€4,200€3,780until 1 Feb
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CasablancaScheduled
22 – 26 Feb 2027€4,300€3,870until 1 Feb
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DohaScheduled
28 Feb – 4 Mar 2027€4,400€3,960until 8 Feb
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DubaiScheduled
7 – 11 Mar 2027€4,400€3,960until 15 Feb
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ErbilScheduled
7 – 11 Mar 2027€3,100€2,790until 15 Feb
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FrankfurtScheduled
15 – 19 Mar 2027€5,800€5,220until 22 Feb
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IstanbulScheduled
22 – 26 Mar 2027€4,700€4,230until 1 Mar
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JeddahScheduled
28 Mar – 1 Apr 2027€4,200€3,780until 8 Mar
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Available in: Istanbul · Dubai · London · Doha · Amsterdam

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