(1) The President shall, on the recommendation of the Board, appoint a Chief Executive Officer for the Corporation.

(2) A person qualifies for appointment as a Chief Executive Officer if that person has

(a) a relevant university degree;

(b) a minimum of five years’ work experience in the fields of finance, banking, or insurance at management level; and

(c) been recommended by the Board after selection by the Board through a transparent and competitive recruitment process.

(3) The Chief Executive Officer shall hold office in accordance with the terms and conditions specified in the letter of appointment.

(4) Except with the prior approval of the Board in writing, the Chief Executive Officer shall not hold any other office, he a director in any other establishment or corporate body Whether for remuneration or not.

(5) The Chief Executive Officer shall be removed from office in accordance with the terms and conditions specified in the letter of appointment.