Supreme Council of Da Afghanistan Bank Adopted by Simple Majority Vote
Streamlined Decision-Making Process
Kabul, Afghanistan - In a move aimed at improving its decision-making process, the Supreme Council of Da Afghanistan Bank has announced new regulations that will adopt decisions with a simple majority vote. This change is effective immediately.
Key Changes
- Only members present in person will have the right to vote, although meetings can also take place through teleconferencing or electronic means with permission from the bank’s relevant procedures.
- In the event of a tie, the Chairman of the meeting will have the casting vote.
- Decisions made by the Supreme Council will not be invalidated solely due to the existence of vacancies on the council.
Minutes and Decisions Made Public
Kabul, Afghanistan - The Supreme Council has also approved changes to its procedures for recording and issuing minutes and decisions. These changes are designed to increase transparency and accountability within the bank.
Key Changes
- All acts done by a person acting in good faith as Chairman or member of the Supreme Council will be valid notwithstanding any defect in their appointment, eligibility, or qualification.
- Minutes of each meeting must be signed by the person chairing the meeting and the Secretary of the Supreme Council.
- Decisions made by the council must be recorded and issued to relevant bodies over the signature of the Chairman presiding at the meeting.
Disclosure of Interests Required
Kabul, Afghanistan - In another move aimed at promoting transparency and accountability, members of the Supreme Council, Executive Board, Deputy Governors, and officers of Da Afghanistan Bank are now required to disclose their direct and indirect business interests upon appointment and annually thereafter.
Key Changes
- Members must disclose their direct and indirect business interests upon appointment and annually thereafter.
- Disclosures must comply with rules adopted by the Supreme Council.
- No act or proceeding of the council or bank will be questioned on the ground of non-compliance with these regulations.
Executive Board Responsible for Bank’s Operations
Kabul, Afghanistan - The Executive Board of Da Afghanistan Bank has been entrusted with responsibility for all matters concerning the administration and operations of the bank that are not specifically assigned to the Supreme Council or Comptroller General.
Key Changes
- The members of the Executive Board must each perform their duties with due diligence and efficiency.
- If the Governor is absent or unable to act, the First Deputy Governor will carry out his functions and exercise all powers of the Governor.
Governor Responsible for Execution of Supreme Council Decisions
Kabul, Afghanistan - The Governor has been made responsible for the execution of decisions made by the Supreme Council and for the direction and control of the administration and operations of Da Afghanistan Bank.
Key Changes
- The Governor will be responsible for delegating powers to other members of the Executive Board or employees of the bank with approval from the Supreme Council.
- The bank must maintain an up-to-date list of authorized signatories and make it available to the public upon request.