The Bank is authorised to carry on and transact the several kinds of business hereinafter specified, namely-

(a) the paying, receiving, collecting and remitting of money, bullion and securities on behalf of the Government and the undertaking and transacting of any other business which the Government may from time to time entrust to the Bank;

(b) the receiving of deposits and the keeping of cash accounts on such terms as may be agreed upon;

(c) the advancing and lending of money on the security of-

(i) any stocks or other security for money issued by the Government;

(ii) stocks, fund and securities (other than immovable property) in which a trustee is authorised to invest money by any law for the time being in force in Ghana or in any other country;

(iii) goods which, or the documents of title to which, are deposited with, or assigned to, the Bank as security for such advances or loans;

(iv) goods which are hypothecated with the Bank as security for such advances or loans, if so authorised by special directions of the Board; and

(v) subject to such directions as may be issued by the Board, debentures of companies with limited liability whether incorporated in Ghana or outside Ghana:

Provided that where the original security is one of those specified in sub-paragraphs (i) and (ii) of this paragraph fully paid shares of companies with limited liability or immovable property or documents of title thereto may be accepted as collateral security;

(d) the granting of loans or overdrafts with or without security, to such extent as may be prescribed by bye-laws not inconsistent with the provisions of the Banking Act, 1970 (Act 339);

(e) the selling and realisation of the proceeds of sale of any stocks, funds shares, securities, debentures, promissory notes or goods which, or the documents of title to which, have been deposited, pledged or hypothecated with, or assigned or transferred to, the Bank as security for advances or loans, or which are held by the Bank or over which the Bank is entitled to any lien or charge in respect of any loan or advance or any debt or claim of the Bank, and which the Bank is entitled to any lien or charge in respect of any loan or advance or any debt or claim of the Bank, and which have not been redeemed in due time in accordance with the terms and conditions (if any) of such deposit, pledge, hypothecation, assignment or transfer;

(f) the selling and realisation of all property, whether movable or immovable which may in any way come into the possession of the Bank in satisfaction or part satisfaction of any of its claims, and the acquisition and holding of, and generally the dealing with, any right, title or interest in any property, movable or immovable, which may be the Bank's security for any loan or advance or may be connected with any such security;

(g) the drawing, accepting, discounting, buying and selling of bills of exchange and other negotiable securities;

(h) the making, issuing and circulating of bank drafts and letters of credit, to order or otherwise than to the bearer on demand;

(i) the drawing of bills of exchange and the granting of letters of credit payable out of Ghana;

(j) the buying of bills of exchange payable out of Ghana at any usance not exceeding six months;

(k) the purchase and sale of telegraphic transfers whether payable in Ghana or elsewhere;

(l) the investing of the funds of the Bank in any of the securities specified in sub-paragraphs (i) and (ii) of paragraph (c) of this section and converting them into money when required, and altering, converting and transposing such investments for or into others of the investments above specified;

(m) the transacting of pecuniary agency business on commission and the entering into of contracts of indemnity, suretyship or guarantee with specific security or otherwise;

(n) the acting as agent on commission in the transaction of the following kinds of business, namely-

(i) the buying, selling, transferring and taking charge of any securities, or shares in any public company;

(ii) the receiving of the proceeds whether principal, interest or dividends, of any securities or shares;

(iii) the remittance of such proceeds by bill of exchange or telegraphic transfer payable either in Ghana or elsewhere;

(o) the buying and selling of gold and silver whether coined or uncoined;

(p) the acceptance of the charge of valuables or securities on such terms as may be agreed on;

(q) the borrowing of money for the purposes of the Bank's business, and the giving of security for money so borrowed by pledging assets or otherwise;

(r) the opening of an account with or the making of an agency agreement with, and the acting as agent or correspondent, of, the Bank of Ghana or a bank incorporated in any country outside Ghana;

(s) acting as executor and trustee of wills, settlements and other instruments securing stocks, debentures and debenture stock, however and whenever constituted and administering trusts of all forms;

(t) engaging in development financing or acquiring or taking by subscription or by purchase or otherwise and the holding of, shares or stock of, and investing in the securities of any company engaged in development financing or any undertaking in Ghana or elsewhere having similar objects as may be deemed by the Bank to be likely to advance, either directly or indirectly the interest of the Bank;

(u) generally, the doing of or dealing with, all such matters and things as may be incidental or subsidiary to the transacting of the various kinds of business herein before specified.