This paper considers institutional aspects of private shareholding in the central banks of South Africa and Turkey. It is shown that only a small number of central banks other than the SA Reserve Bank (SARB) in South Africa and Türkiye Cumhuriyet Merkez Bankasi (TCMB) in Turkey have any form of private shareholding. The comparison highlights considerable institutional differences between the shareholding governance structures of the SARB and the TCMB.
Although the title seems to be a contradictio in terminis, this paper shows that there are a small eclectic number of central banks with private shareholders. This paper reviews this selected group of central banks on which surprisingly little has been published. The first challenge is to identify these central banks, as no “generally accepted” or standardised list of such central banks exists, and very little has been published that identifies or compares them.