The Board of Directors is a rulemaking authority consisting of seven people: a royally appointed Governor, as chair; two Deputy Governors, one of whom serves as Secretary; and four others appointed by the government including one member of the Ministry of Finance. The appointed members hold office for five years, may be reappointed once, and are forbidden to hold political affiliations or substantial interests – including any shares – in financial institutions. The Deputy Governors are appointed by the Board itself. The Board, in addition to its rulemaking authority, is also authorized to establish divisions and delegate functions as it sees fit.