(3) The Central Bank of Sudan shall be fully independent in its pursuit of monetary policy. (4) There shall be established an independent Board of Directors for the Central Bank of Sudan, which shall be responsible to the Presidency. It shall consist of nine members as follows:(a) Governor of the Central Bank of Sudan, Chairperson, (b) two Deputies, and (c) six highly qualified Sudanese to be appointed by the President of the Republic in accordance with Article 58 (2) (c) herein. (5) Decisions of Board of Directors on matters that may affect adversely the interests of the clientele of either banking window shall be by consensus. (6) The Governor of the Central Bank of Sudan and his/her two Deputies shall be appointed by the President of the Republic in accordance with Article 58 (2) (c) herein. The Governor of the Central Bank of Sudan shall appoint, in consultation with the Board of Directors and his/her two Deputies, other senior officers within the Central Bank of Sudan. (7) The Bank of Southern Sudan shall be responsible for chartering and supervising financial institutions in southern Sudan. (8) All financial institutions shall be subject to internationally recognized regulatory and prudential standards for Islamic and conventional finance, as set by the Central Bank of Sudan. (9) All financial institutions shall be bound to implement monetary policies set by the Central Bank of Sudan. Government Borrowing 203 (1) The Government of Southern Sudan and the states may borrow money. Neither the National Government nor the Central Bank of Sudan shall be required or expected to guarantee borrowing by sub-national levels of government. (2) The Government of Southern Sudan and all sub-national levels of government shall report financial and fiscal data to the relevant National Government bodies for statistical purposes. 88