325. The board of directors shall, in particular,(1) observe and enforce the regulations made by the Government for the purposes of this Act, the by-laws of the federation, and the rules of ethics and professional conduct, standards, orders and written instructions issued under this Act;
(2) establish a policy applicable to the federation regarding sound and prudent management practices;
(3) provide the board of ethics and professional conduct with any personnel it requires to carry out its functions;
(4) furnish to the Authority, on request, a certified copy of any document of the federation;
(5) ensure the keeping and preservation of the registers;
(6) determine the rate of interest on the shares issued by the federation, other than qualifying shares, and a policy for setting the federation’s savings and credit interest rates;
(6.1) determine the rate of interest on capital shares issued by credit unions that are members of the federation;
(7) make or control the investments of the federation;
(8) insure the federation against the risks of fire, theft or embezzlement by its officers, managers and other employees, and provide the federation with civil liability insurance and officers’ and managers’ liability insurance;
(9) designate the persons authorized to sign contracts or other documents on behalf of the federation;
(10) at the annual meeting, give an account of its management and present the annual report;
(11) facilitate the work of the persons responsible for the inspection of the federation, the supervision of its transactions or the audit of its books and accounts.