Immunity of central bank, as a body of state or Government's banker, while doing banking activities in other countries, has been discussed in the frame of state sovereignty and immunity. Regarding central bank as an independent organization from state which has special immunity is a new approach in this context which developed by investee countries. In this paper I am attempting to analyze different aspects of this subject by a comparative survey on the case law of U.K, U.S.A and international commercial arbitration.