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  • Chapter 5: Relationship with the Government and Foreign Entities

    • Article 19

      The Bank shall, on behalf of the Government and upon the request of the Minister of Finance or his designee, carry out the following: 
       
      1.Open, settle, and monitor current accounts and record government revenues.
      2.Maintain deposits and accounts.
      3.Supervise the issuance and payment of letters of credit domestically and internationally.

    • Article 20

      To achieve its objectives and carry out its duties, as required by the nature of its business, the Bank may: 
       
      1.enter into bilateral or multilateral agreements relating to monetary, regulatory, or oversight policies, in accordance with statutory procedures;
      2.conclude agreements with other central banks; similar foreign supervisory or oversight entities; or relevant international institutions, organizations, and councils, in accordance with statutory procedures;
      3.cooperate and coordinate with foreign counterparts for the purpose of exchanging information or carrying out supervisory and oversight visits related to financial institutions; and
      4.carry out monetary and financial operations and open accounts with other central banks and local, foreign, regional, and international monetary and financial institutions.

    • Article 21

      In its communications with similar foreign oversight and supervisory authorities and relevant international organizations, the Bank shall: 
       
      1.promote its relationship therewith by exchanging visits and holding meetings and work sessions; and
      2.keep abreast of reports and information issued thereby.