Versions

 

Article (31) Prohibited Transactions

Except as otherwise provided for in this law, the Central Bank shall not:

(1) Engage in trade or participate in any financial, commercial, agricultural, industrial or other undertaking except for such activities as the Central Bank may deem necessary to achieve its objectives.
(2) Purchase, or retain title to, real estate except for the conduct of the Central Bank's business and for the housing of its employees.
(3) Advance unsecured loans.
(4) Advance loans upon security other than that provided for under this law. However, if the ability of a debtor to repay any debt due to the Central Bank is doubtful, the Central Bank may accept movable assets, real estate or other property as security for payment. The Central Bank shall sell such property, possessed as a result of the debtor's failure to pay the debt, as soon as market conditions permit.
(5) Accept shares or convertible public debt instruments as collateral.