The Board
of Directors of the Central Bank is responsible for
the policy and the general administration of the
general administration of the Central Bank.
Moreover, the Board may exercise any of its powers
under the Central Bank Act 1984; it may make bylaws
for the conduct of its business, and can issue
directives for the purpose of effecting the
provisions of the Act and other related
legislations.
The
Members of the Board are appointed by the Head of
State, acting upon the advice of Cabinet. Following
important amendments to the Central Bank Act on 6
September, 2001, the Board comprises of the Governor
of the Central Bank who is the Chairman of the
Board, the Financial Secretary and three other
independent Board members, who shall be citizens of
Samoa and include one or more persons having
industrial or commercial or agricultural
experience.
Central
Bank Board of Directors 2004
Standing:
Tupa'imatuna Iulai Lavea, Norman Wetzell
Seated:
Lealiie'e R. Ott,
Papali'i T. Scanlan, Muliagatele L. MacDonald
Absent:
Ms. Hinauri Petana
The
Governor shall serve as the Chief Executive of the
Bank, and is responsible for the execution of the
Bank's policies and for the efficient management of
the Bank. In doing so, the Chief Executive must
follow any general or special directions given to
him by the Board.
Muliagatele
Leki MacDonald, a prominent businessman and Mr.
Norman Wetzell, the President of the Samoa Chamber
of Commerce, were appointed as independent Members
of the Board in August and November 2001
respectively. They, together with another
independent Member, Lealiiee Rudy Ott, the Chief
Executive Officer of the Ministry of Finance, Ms
Hinauri Petana and the Governor of the Central Bank,
Papali'i Tommy Scanlan, complete the membership of
the Board.
