The bank’s Board of Directors’ principal responsibilities are as follows: v	Policy formulation, supervision of major initiatives, overseeing policy implementation, ensuring compliance with laws and regulations, nurturing proper and ethical behavior, transparency and integrity in stakeholders’ reporting; v	Approval of commercial and financial policies and the budget, so as to achieve its objectives and preserve and enhance the interest of its shareholders and other stakeholders; v	Preparation, review and updating of the plans necessary for the accomplishment of the bank’s aims and the performance of its activities, in light of the objectives for which it was incorporated; v	Adoption of the bank’s disclosure procedures, and monitoring their application in accordance with the rules and conditions of the CMA; v	Supervision of the performance of the Executive Management, and ensuring that work is properly attended to, so as to achieve the bank’s aims, in the light of the objectives for which it was incorporated; v	Appointment of the CE and the Chief Operating Officer, as well as appointment of the officers answering to either of them pursuant to the organizational structure of the bank.