Central Bank of Uganda. 161. The central bank. (1) The Bank of Uganda shall be the central bank of Uganda and it shall be the only authority to issue the currency of Uganda. (2) The authority of the Bank of Uganda shall vest in a board which shall consist of a governor, a deputy governor and not more than five other members. (3) The governor, the deputy governor and all other members of the board shall— (a) be appointed by the President with the approval of Parliament; (b) hold office for a term of five years but shall be eligible for reappointment. (4) The office of governor and deputy governor shall each be a public office, and the governor and deputy governor shall respectively be chairperson and deputy chairperson of the board. (5) The governor, the deputy governor or any other member of the board may be removed from office by the President only for— (a) inability to perform the functions of his or her office arising from infirmity of body or mind; (b) misbehaviour or misconduct; or (c) incompetence. 162. Functions of the bank. (1) (a) (b) (c) (d) The Bank of Uganda shall— promote and maintain the stability of the value of the currency of Uganda; regulate the currency system in the interest of the economic progress of Uganda; encourage and promote economic development and the efficient utilisation of the resources of Uganda through effective and efficient operation of a banking and credit system; and do all such other things not inconsistent with this article as may be prescribed by law.