The Board of Directors shall supervise the Fund management, and for this purpose it may exercise the following tasks and powers:

1. Developing the Fund general policy and approving the plans and programs required to implement it.

2. Approving the technical foundations and standards necessary to implement the Fund tasks and achieve its objectives.

3. Creating the Fund financial account in accordance with the financial procedures applicable in the Council.

4. Approving the collection and disbursement of foundations, programs, and mechanisms from the Fund money.

5. Approving the Fund draft budget and closing account.

6. Appointing one or more external auditors, if necessary, and determining their remuneration.

7. Issuing administrative and financial powers schedule.

8. Preparing an annual report on the implemented initiatives and projects and the Fund financial position and submitting it to the Cabinet.

9. Forming the necessary committees to manage the fund and implement its tasks and objectives.