Article (19) Foreign Reserve

(a) The Central Bank shall, upon the terms and conditions set by a resolution issued by the Board, maintain a foreign reserve comprised of all or any of the following assets:
1. Currencies and gold bullion.
2. Foreign convertible currencies, or balances of convertible currencies in foreign banks.
3. Any internationally recognized assets including the gold part of the Kingdom's share in the International Monetary Fund and the Special Drawing Rights allocated to the Kingdom in the International Monetary Fund;
4. Bills of Exchange and Promissory Notes payable outside the Kingdom in convertible currencies;
5. Treasury Notes issued by foreign governments and payable in convertible currencies
6. Bonds specified by the Board, issued or guaranteed by foreign governments or international financial institutions, provided that they are payable in convertible currencies.
7. Other Bonds as the Board shall determine, issued by a foreign entity provided that they are negotiable in international financial markets and payable in convertible currencies.
8. Any other assets valuated in foreign currencies approved by the Board.
(b) The amount of foreign exchange reserve permanently maintained by the Central Bank shall not be less than 100% of the value of the currency in circulation.
(c) In exceptional circumstances, the minimum amount of the Foreign Exchange Reserve may be changed by a resolution issued by the Board, provided that such minimum shall not be less than 75% of the value of the currency in circulation.