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.
Standing:
Muliagatele L. MacDonald,
Lealiie'e R. Ott, Leasi Papali'i
T. Scanlan
Seated:
Hinauri Petana, Norman Wetzell
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 2006 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.
Source: Banking & Corporate
Services
Department Last Updated:
11 October, 2007
