Corporate Power.
Section 2
SEC. 2. Corporate Power. — The Philippine Amanah Bank shall have the power: a) to prescribe its by-laws; b) to adopt, alter, and use a corporate seal; c) to make contracts, to sue and be sued; d) to accept savings and time deposits, and open current or checking accounts; e) to borrow money; to own real or personal property and to sell, mortgage or otherwise dispose of the same; f) to employ such officers and personnel, preferably from the Muslim population in Mindanao and Palawan as may be necessary to carry on its business; g) to establish such branches and agencies in the dominantly Muslim provinces in Mindanao and Palawan and such correspondent Offices in other areas as may be necessary for the proper conduct of its business; h) to grant loans for the establishment, acquisition, development and expansion of agricultural, commercial and/or industrial enterprise, including public utilities, mining livestock and poultry and fishing, whether offshore or inland; i) to invest equities of allied undertakings as pertinent laws and the Central Bank shall authorize; j) to carry on trust business in accordance with the provisions of law governing trust corporations; k) to issue bonds, debentures, securities, collaterals and/or the renewal or refinancing of the same with the approval of the Central Bank, to be used by the Bank in its lending operations for industrial and agricultural projects that will promote the economic development of the region; l) to exercise powers granted under this Charter and such incidental powers as may be necessary to carry on its business, and to exercise further the general powers mentioned in the Corporation Law and the General Banking Act, as amended, far as they are not inconsistent or incompatible with the provisions of this Charter.