The Central Bank's Fit and Proper guideline (sic) sets out the official position as to the type of person held to be fit and proper to be a director or officer of a financial institution. It states:
3.1 In accordance with governing legislation, a person is considered to be fit and proper if the person essentially is of good character, competent, honest, financially sound, reputable, reliable and discharges and is likely to discharge his/her responsibilities fairly.