Terms of Reference
1.1.1 Members of the Board shall be appointed by the Minister and Institutional shareholders, on the nomination of the Board and shall be no less than 12 and no more than 15 in number. The Minister shall appoint Directors for their knowledge of or experience in socioeconomic development, development finance, business, banking or administration or for their professional qualifications, and in making such appointment he shall consult the President and act in accordance with any directions the President may give him.
1.1.2 Appointments to the Board, with the exception of the Chief Executive Officer shall be for a period to be determined by the Minister of Finance or as set out in the Act;
1.1.3 The chief executive officer shall be appointed by the shareholders for a five a year term but will be eligible for reappointment and subject to supervision by the Board. The chief executive officer will be responsible for the day-to-day management of the Bank’s affairs.
1.1.4 The membership shall comprise a majority of Directors as non-executive;
1.1.5 The Minister of Finance shall appoint a non-executive Director to be a Board Chairman.