The Bank's affairs (i.e. policies and general administration) are administered by the Board of Directors which comprise the Governor, the Deputy Governor and formerly 3 now 5 Non-executive Directors, all of whom are appointed by the Head of State. These are people of recognized standing and experience in professional, academic, finance or business matters. Thus because they have wide outside interests and are in a position of influence, these Directors bring a wealth of knowledge to the everyday work of the Bank. The Governor, by law, is Chairman of the Board. The term of office of the Governor and the Deputy Governor is 5 years and that of the other Directors is 3 years. However, they may be re-appointed.