The Board of Directors shall, within the limits of the provisions of this decree-law, exercise all powers required for achieving the objectives for which the Central Bank has been established. The Board of Directors shall, in particular, exercise the following: 1. Approve regulations, standards, instructions and business controls to perform its functions and jurisdictions, and take all measures and actions necessary to enforce the provisions of this decree-law. 2. Approve the monetary management framework of the Central Bank, as per the established monetary system. 3. Approve and oversee implementation of polices for deployment and management of the Central Bank’s Foreign Reserves and other assets. 4. Approve polices and regulations to mitigate systemic risk in the financial system, as a whole. 5. Approve regulations, standards, guidelines and policies regulating Licensed Financial Institutions and the conduct of Licensed Financial Activities and decide on related matters, including regulations and procedures relating to supervision and oversight thereof at both individual and consolidated levels. 6. Determine conditions and rules for granting licenses to carry on Licensed Financial Activities and authorizations to undertake Designated Functions. 7. Approve regulations, controls, and procedures for countering money laundering and combating terrorism financing. 8. Decide on matters relating to issuance of the Currency and its withdrawal from circulation. 9. Take necessary actions, procedures and impose administrative penalties against any Person violating the provisions of this decree-law, and regulations issued in implementation thereof. 10. Approve rules and regulations for maintaining integrity and efficiency of Financial Market Infrastructures licensed, established, developed, or operated by the Central Bank. 11. Approve the Central Bank’s policies, including the organizational structure and the administrative, human resources, financial systems, risk, compliance and technical guidelines, and determine powers and competences. 12. Approve rules for the Central Bank strategies, and institutional governance, including a set of rules and regulations aimed at achieving performance quality and excellence. 13. Approve settlements and reconciliations relating to Central Bank’s business. 14. Approve the Central Bank’s draft annual budget and any variations thereto during the year. 15. Approve the Central Bank’s annual final accounts and the amount of net annual profits. 16. Deal with all other matters deemed within its powers and are conducive to achievement of the objectives of the Central Bank and the discharge of its functions, in accordance with the provisions of this decree-law. 17. Any other responsibilities assigned by the President of the State.
Interpretation and application must be checked against the official text and current version.