Article 2

The Board of Governors shall meet when convened by its Chairman on his own initiative or at the request of one of its members. The President of the Bank may, on his own initiative or at the request of the Board of Directors, request the Chairman of the Board of Governors to convene the Board.

The Board of Governors shall hold an Annual Meeting, for the purpose of examining the annual report and determining the general directives for the Bank.

The Board of Governors may decide to approve the annual report comprising the financial statements (balance sheet, the profit and loss account, the statement of Special Section, the notes to the annual accounts, including the consolidated version thereof, and any other statement which may be deemed necessary for the evaluation of the Bank's financial position or results) outside the Annual Meeting, including by written procedure.

The members of the Management Committee may be invited to attend the meetings of the Board of Governors. The members of the Board of Directors, Management Committee and Audit Committee shall attend the Annual Meeting of the Board of Governors.