Article (29) Permitted Transactions

(a) The Central Bank may carry out any of the following transactions with financial institutions:
1. Buy, sell, discount and re-discount bills of exchange and promissory notes.
2. Buy, sell and otherwise in the government debt instruments.
3. Buy, sell and otherwise deal in the assets mentioned in Article 19 (a) of this law.
4. Grant credit facilities in the ordinary course of business and also the exceptional circumstances for the purpose of assisting financial institutions overcome any serious shortage of liquid money or any risk to their financial situation.
5. Borrow money or any other assets.
6. Open and maintain accounts for financial institutions and accept their deposits upon the terms and conditions to be determined by the Governor.
(b) The Central Bank may perform the following:
1. Act as agent or correspondent bank for foreign central banks, similar monetary institutions, foreign governments or their bodies or international financial institutions.
2. Open accounts to any other person, except those mentioned in the preceding item, upon the approval of the Board in order to encourage participating in the financial activity of the Bank.
3. Extend loans to its employees upon the terms and conditions stated in the regulations issued by the Board
4. Do all such other acts that are ancillary, incidental or consequential to any of the transactions mentioned in this Article and as determined by the Central Bank.