(7) The Bank of South Sudan shall be headed by a Governor and assisted by two Deputy Governors, appointed by the President. (8) The Governor of the Bank of South Sudan shall appoint other senior officers within the Bank of South Sudan in consultation with the Board of Directors and in accordance with the law. (9) There shall be established a Board of Directors for the Bank of South Sudan appointed by the President. It shall consist of nine members as follows:(a) (b) (c) Governor of the Bank of South Sudan, Chairperson; two Deputies of the Governor, members; and six non-executive, highly qualified, competent and experienced South Sudanese who are not employees of the Bank, members. (10) The Board of Directors shall be the highest policy-making body of the Bank and shall be responsible to the President. (11) Decisions of Board of Directors on matters that may affect adversely the interests of the clientele shall be by consensus. (12) The tenure and terms and conditions of service of the Governor, Deputy Governors, members of the Board of Directors and other officials of the Bank shall be prescribed by law. Circulating Currencies in South Sudan 181. (1) The Bank of South Sudan shall have the exclusive right to issue a currency to be the legal tender of South Sudan, the design of which shall reflect the historical and cultural diversity of the country. (2) Until a new currency is issued on the recommendation of the Bank of South Sudan, the circulating currency in South Sudan shall be recognised. Borrowing 182. (1) (a) (b) (2) the National and state governments may borrow money with the approval of their respective legislatures. The appropriate legislature may by law exempt any categories of loans from the requirement of approval and in this case determine the extent of the money value of the loan subject to such conditions as it may prescribe. neither the National Government nor the Bank of South Sudan shall guarantee borrowing by any state government without their prior approval. The National and state governments may borrow money from foreign sources depending on their respective credit worthiness. 69