1. The Board of Directors shall, at the end of each financial year, determine the Central Bank’s annual net profits after deducting administrative and operational expenses, and allocating necessary funds for depreciation of assets and reserves, provisions for bad and doubtful debts and end of service indemnity for the staff of the Central Bank, along with the contingencies and other purposes, the Board of Directors may determine, and in general, all other financial expenses normally deducted from net profits by banks. 2. The President of the State shall issue a decision on the amount to be deducted each year from the net profits and transferred to the Government, based on a recommendation from the Board of Directors after agreement with the Minister. 3. Should the reserves of the Central Bank, at the end of the financial year, be insufficient to cover its losses and meet its obligations; the deficit shall be covered by the Government, in accordance with the terms agreed upon between the Central Bank and the Government.
Interpretation and application must be checked against the official text and current version.