Constitution of the Kingdom of Swaziland, 2005 (2) eSwatini For the purposes of this section “debt charges” includes interest on that debt, sinking fund charges, the repayment or amortisation of debt and all expenditure in connection with the raising of loans on the security of the revenues of Swaziland or the Consolidated Fund and on the service and redemption of debt thereby created. 206. The Central Bank (1) There shall be the Central Bank of Swaziland consisting of the Governor and such other staff and having such powers and functions as Parliament shall determine. (2) The Central Bank shall, among other things— (a) be the only authority to issue the currency of the Kingdom; (b) be the sole custodian of public funds both in and outside Swaziland with power, by appropriate instrument, to delegate such custody of funds as may be specified in that instrument; (c) maintain an adequate external reserve for Swaziland; (d) supervise the operations of financial institutions in the Kingdom; (e) issue securities on its own accounts; (f) promote monetary stability and a sound financial structure in Swaziland; and (g) foster financial conditions supportive of an orderly balanced economic development of Swaziland. (3) The powers of the Bank shall vest in a Board of Directors appointed by the Minister responsible for Finance of which the Governor and the Deputy Governor shall be members. (4) The Governor shall be appointed by the King on the advice of the Prime Minister based on the recommendation of the Board. (5) The Bank shall be independent and not subject to the control or direction of any person or authority save as may be necessary for the due performance of its functions. (6) The Bank shall have power to disallow any transaction, investment or transfer of any foreign exchange both in and outside Swaziland which is contrary to the law or which may be prejudicial to the monetary policy or price stability of Swaziland when performing its functions under this Constitution or any other law. (7) Parliament shall make law for the proper organisation and efficient operation of the Bank and for other matters incidental to the operation of the Bank. 207. Auditor-General (1) There is established the office of Auditor-General, which is a public office. (2) The Auditor-General shall be appointed by the King acting on the advice of the Minister responsible for Finance after recommendation by the Civil Service Commission. (3) The public accounts of Swaziland and of all offices, courts and authorities of the Goverrnment shall be audited and reported on by the Auditor-General and for that purpose the Auditor-General or any other person authorised by the Auditor-General shall have access to all books, records, reports and other documents relating to those accounts. (4) Notwithstanding the provisions of subsection (3), where it is provided by any law, in the case of any body corporate directly established by law, the accounts of that body corporate shall be audited and reported on by such person as may be specified by that law. By Laws.Africa and contributors. Licensed under CC-BY. Share widely and freely. 76