Document Type : Original Article
Authors
1 PhD Student in International Law, University of Tehran
2 Faculty Member, Hazrat-e Masoumeh University
Abstract
Along with development in communications and economic transactions an evaluating and monitoring system is always needed. Central bank is at the summit of this matter in all countries. Unlike other banks, central banks are not commercial entities and they are responsible for doing different activities such as determining interest rate, inflation, unemployment rate and distribution of income. Central banks' degree of independence is various among different countries; some of them are main organ of financial policies of their governments; others are completely independent from their governments and financial policies. This supervisory entity needs some Privileges to have better performance. One of the most important privileges is the central bank immunity. The immunity of central banks is not reversible by violating human rights as long as they perform their main mission in monitoring. By entering the central banks in commercial or military activities (supporting financial resources for military forces), their immunities are reversible.
In recent years, we have witnessed sanctions against the Central Bank of the Islamic Republic of Iran that have disturbed all banking activities. Because of this sanction its extra-territorial and over-resolution aspects and violation of treaty obligations are illegal.
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