The Board shall be in charge of developing the Fund’s general policy, in accordance with this Statute and relevant laws. It shall assume all the powers and carry out all the duties necessary to achieve the Fund’s objectives, and may, for this purpose, take any and all the necessary decisions, actions, and measures, particularly the following:
- Approving the strategies related to the Fund’s activities as well as the plans and programs necessary for their implementation, and taking necessary measures for completion of statutory procedures.
- Supervising the implementation of the duties assigned to the Fund and to development funds and banks.
- Approving the Fund’s organizational structure.
- Approving the Fund’s administrative and financial regulations and other internal and technical regulations and procedures necessary for the performance of its activities.
- Setting the mechanisms and standards necessary for monitoring the performance of development funds and banks.
- Approving any updates of the competencies, strategies, statutes, structures, implementation plans, and financing and lending mechanisms of development funds and banks and taking necessary measures for completion of statutory procedures.
- Approving the Fund’s draft budget, final accounts, and annual report as well as auditor’s report, prior to their submission in accordance with applicable statutory procedures.
- Reviewing periodic reports on the Fund’s activities and taking necessary action.
- Proposing laws related to the Fund’s competencies as well as amendments to applicable ones.
- Reviewing annual reports and final accounts of development funds and banks, prior to their submission in accordance with applicable statutory procedures.
- Accepting gifts, donations, grants, bequests, and endowments, in accordance with relevant provisions.
- Appointing an external auditor and a comptroller.
- Approving the conclusion of agreements, protocols, and contracts, in accordance with applicable statutory procedures.
- The Board may, in carrying out its duties, form permanent or temporary committees from among its members or others. The formation decision of each committee shall designate its chairman and members and determine its powers and duties. A committee may, in performing the tasks assigned thereto, seek the assistance of any person it deems fit.
The Board may delegate some of its powers to Board members, the Governor, or to whomever it deems fit from among the Fund’s employees.