Powers and Responsibility of the Board:
- It shall determine other policy matters, except those that are required to be submitted to the Regulatory Authority under Article 11 of this Proclamation.
- Appoints the CEO of the Corporation, determines his salary and benefits and dismisses him.
- Approves the hiring, assignment and dismissal, salaries and allowances of the officers responsible for the main work of the corporation.
- Approves the corporation work program, budget and internal regulations; monitors their implementation;
- Approves the corporation long-term loans and credits;
- Approves the sale of fixed assets that are not essential to the survival of the corporation;
- Ensures that the corporation’s accounts and assets are properly maintained;
- It provides the corporation’s accounting records to the corporation’s auditors and the regulatory authority with a current report and financial statements on the corporation’s performance;
- It proposes to the regulatory authority to increase or decrease the capital of the corporation.