(1) The work, duties and powers of the executive head shall be as follows:- (a) To use the powers granted by the board of directors subject to the articles of association and regulations, to implement the decisions of the board of directors and to supervise and control the operations and transactions of the bank or financial institution, (b) ) To prepare the annual budget and work plan of the bank or financial institution and submit it to the board of directors for approval, (c) To manage the necessary manpower under the staff regulations of the bank or financial institution, (d) To implement the decisions made by the general meeting, (e) To operate the organization in accordance with this Act and the instructions of the National Bank and to carry out effective internal control and risk management of the bank or financial institution, (f) To submit to the National Bank or any other body by the bank or financial institution subject to this Act, the instructions, memorandum and regulations of the National Bank. To submit the required details, documents, decisions etc. in due time, (g) To operate in the best interests of the depositors, shareholders and the bank or financial institution, (h) To apply appropriate standards for the top management under the policy determined by the board of directors. (2) The executive head will be accountable to the board of directors for his work.