Section 23: Accountability and Responsibility of Director

1) A Director shall not commit or cause to be committed any act for personal benefit through a bank or financial institution or in the course of business of a bank or financial institution.

2) A Director shall be personally liable for any act carried out exceeding his/her authority as in the capacity of a Director of the bank or financial institution.

3) A Director of a bank or financial institution shall have to assume responsibility with regard to risk management and internal control by following sound business strategies of the institution.

4) A Director shall not have to intervene in the daily functions and activities of the management of the bank or financial institution.

5) A Director shall have to fully comply with the directives issued by the Rastra Bank from time to time.