Based on Article 7, Article 8, Article 34, as well as any other article of this law, the Executive Board shall have the following specified powers and duties:

To define and approve the policies of the Central Bank to promote and maintain a stable financial system, as well as a safe, sound, and efficient payment system.

To define and approve the policies of the Central Bank to contribute to achieving and maintaining domestic price stability.

To define and approve other policies of the Central Bank related to the fulfillment of its duties, and to approve internal rules for their implementation as needed.

To set general policies and approve the statute and internal rules applicable to the administration and activities of the Central Bank.

To recommend to the Central Bank's Board the determination of the organizational structure of the Central Bank, including the establishment and location of offices and operational facilities.

To approve the appointments of department and division directors.

To exercise the powers and duties of the Central Bank as specified in Articles 12, 15, paragraph 3, Article 19, paragraph 3, Articles 22, and 30, paragraph 3, of this law.

To determine the categories of assets that will constitute the international reserves.

To determine the categories of assets suitable for the investment of the Central Bank's financial resources.

To approve or reject the issuance of licenses and permits for payment, clearing, and securities settlement systems, and to revoke these licenses and permits.

To approve or reject the issuance of licenses or permits for financial institutions, and to revoke these licenses and permits.

To undertake enforcement actions, including directing any supervised bank or financial institution, as well as any payment, clearing, and securities settlement system; to take corrective actions, appoint a liquidator for such entities, or impose administrative fines, as specified by this law or any other law, and then report any such actions to the Central Bank's Board.

To establish one or more advisory bodies, define the rules and conditions for the appointment of their members, and set the terms of reference for such bodies.

To assess risks and develop plans to ensure the continuity of activities and the security of the Central Bank in case of future contingencies.

To propose to the Central Bank's Board regulations for emergency liquidity support.

To approve the rules of procedure for the Executive Board; and

Such other duties and powers as are clearly specified by this law or any other law.