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(c) acquire, hold, mortgage and dispose of property, whether movable or immovable;

(d) borrow funds in territories of the Participating Governments or elsewhere, issuing such evidences of indebtedness as may be appropriate;

(e) regulate banking business on behalf of and in collaboration with Participating Governments;

(f) regulate and have general oversight of payment and settlement systems, purchased payment facilities and netting contracts or arrangements;

(g) exercise all powers specifically granted by the provisions of this Agreement to the Bank, and do all such things as shall be necessary to carry out the powers so granted;

(h) generally, undertake the duties and responsibilities assigned to it by any other law.

4.

The purposes of the Bank are - (1)

to regulate the availability of money and credit;

(2)

to promote and maintain monetary stability;

(3) to promote credit and exchange conditions and a sound financial structure conducive to the balanced growth and development of the economies of the territories of the Participating Governments;

(4) to actively promote through means consistent with its other objectives the economic development of the territories of the Participating Governments.

5.

The Bank shall have its principal office in one of the territories of the Participating Governments as the Council may determine and may establish such branch offices and may appoint such agents and correspondents as may be required.

PART IIA

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