1. The Central Bank aims at achieving the following objectives: a. Maintain stability of the national Currency within the framework of the monetary system; b. Contribute to the promotion and protection of the stability of the financial system in the State; and c. Ensure prudent management of the Central Bank’s Foreign Reserves. 2. For the purpose of achieving its objectives, the Central Bank shall have the following functions and powers: a. Establish and implement monetary policy. b. Regulate Licensed Financial Activities, develop and promote proper standards of conduct of business, sound and prudential practices amongst Licensed Financial Institutions in accordance with the provisions of this decree-law and international standards. c. Issue regulations, standards, circulars, and guidelines to ensure that Licensed Financial Activities are carried on with integrity, prudence and the appropriate level of professional competence, and in manners not detrimental to the interest of customers, Insured, and Beneficiaries. d. Maintain sufficient Foreign Reserves to cover the Monetary Base as per the provisions of this decree-law. e. Foster sustainable finance in the State and integrate environmental, social, and governance principles into the Central Bank’s business and operations. f. Monitor and analyze systemic risk in the financial system. g. Regulate, develop, oversee, and maintain soundness and efficiency of Financial Market Infrastructures.
Interpretation and application must be checked against the official text and current version.