Order 013: Trade Bank of Alduria

[Alejandro Campos]

 

Transitional Government of the Republic of Alduria

 

ORDER 013

------------------------------------------------------

Pursuant to my authority as President of the Republic of Alduria, and the provisions of the Constitution of Alduria, I hereby promulgate the following:

UNDERSCORING that the Development Fund for Alduria (DFA) must be used in a transparent manner to meet the humanitarian needs of the Aldurian people, for the economic reconstruction and repair of Alduria’s infrastructure, and for the costs of Aldurian civilian administration, and for other purposes benefiting the people of Alduria;

REAFFIRMING the commitment of the Government of Alduria to using effectively the resources of the DFA for the above purposes;

NOTING that Alduria currently lacks financial institutions capable of facilitating imports and exports of goods and services to and from Alduria;

NOTING the importance of economic trade to revitalizing the Aldurian economy, stimulating economic growth and providing employment for the Aldurian population in order to provide for sustainable development;

SECTION I. Establishment of the Trade Bank of Alduria.

1. There is hereby established an institution to be known as the Trade Bank of Alduria (TBA).
   
2. The TBA shall be an independent governmental entity and is hereby authorized to perform such activities as are necessary to accomplish its purposes, consistent with the laws and with its Charter.
   
   

SECTION II. Purpose.
The TBA shall provide financial and related services to facilitate the importation and exportation of goods and services to and from Alduria in order to benefit the economy of Alduria. The Cabinet may promulgate additional regulations, orders, memoranda or other documentation that further define the purpose of the DFA.

SECTION III. President, Charter and Board of Directors.

1. The President of the Republic shall appoint a President of the TBA, on the advice of the Prime Minister.
   
2. The President of the TBA shall be the chief executive officer of the TBA. The President, with concurrence of the President and the Cabinet, shall issue a Charter for the TBA, effective upon issuance, which will specify, among other things, the functions, powers, financial structure, governance, and reporting requirements of the TBA. The Charter for the TBA shall establish a Board of Directors for the purpose of governing the activities of the TBA.
   

SECTION IV. Initial Capitalization.

1. The authorized capital of the TBA is €800,000,000 Aldurian Écus.
   
2. The Cabinet may provide initial paid-in capital for the TBA from the DFA, in an amount not to exceed $100,000,000. The remaining $700,000,000 will exist as callable capital only in the event the TBA is unable to meet its current obligations. The Cabinet may provide any required callable capital from the DFA.
   

SECTION V. Contractual and Other Authorizations.

1. In general, the President of the TBA, on behalf of the TBA, is authorized to hire and pay the salaries of staff, procure goods and services, and enter into contracts and engage in such other acts as may be necessary or advisable to conduct the business of the TBA.
   
2. In particular, the President, on behalf of the TBA, is authorized to enter into a short-term contract with an Operating Consortium of financial institutions from various countries selected and approved by the Cabinet.
   
3. Under this contract, the members of the Operating Consortium shall provide, for a limited period of time, training, operational and technical support to the TBA and such other support as the President may deem advisable and necessary, including but not limited to, advising, issuing and confirming letters of credit on behalf of the TBA.
   

SECTION VI. Distribution of Profits.
Profits generated by the operations of the TBA will be distributed to the DFA from time to time as determined by the President in consultation with the Cabinet.  

 
SIGNED,
Alejandro Campos
President of the Republic of Alduria.

[Natalia Cotilla]

Countersigned,

Natalia Cotilla
Prime Minister of the Republic.