Article (8) The Powers of the Board

The Board shall supervise the affairs of the Central Bank, lay down its policies and shall exercise all powers necessary to achieve the objectives of the Central Bank as set out in the provisions of this law.

The Board shall, in particular, carry out the following:

(1) Draw the Central Bank's monetary, credit and investment policies, and all other policies relating to the financial sector.
(2) Oversee the business of the Central Bank and ensure that all duties stipulated in this law are carried out effectively.
(3) Determine matters relating to the issue and recall of currency.
(4) Approve government borrowing in exceptional circumstances according to the provisions of this law.
(5) Approve the annual budget of the Central Bank and any amendments thereto.
(6) Approve the final accounts of the Central Bank.
(7) Approve the annual report of the Central Bank's activity.
(8) Issue resolutions and regulations stipulated in this law.
(9) Approve the internal regulations of the Central Bank.
(10) Approve the financial and administrative regulations regarding the Central Bank's personnel. In doing so it shall not adhere to the rules of the civil service.
(11) Deal with such other matters that may fall within the powers of the Board under this law.