XaraBank

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SACRED INDIGENOUS FINANCIAL SYSTEM OF XARAGUA
SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA
OFFICE OF THE RECTOR-PRESIDENT
SUPREME FINANCIAL AND MONETARY AUTHORITY
CONSTITUTIONAL CODE ON THE INDIGENOUS BANK OF XARAGUA, THE VIAUD’OR MONETARY SYSTEM, THE NATIONAL TREASURY, FINANCIAL AUTONOMY, INSTITUTIONAL PROTECTION, AND PROHIBITION OF UNAUTHORIZED REPRODUCTION
Original Institutional Establishment: March 29, 2025
Initial Financial Synthesis: May 8, 2025
Protection Decree: May 11, 2025
Financial and Ecclesiastical Consolidation: May 16, 2025
Issuing Authority: Office of the Rector-President
Competent Jurisdiction: Sovereign Catholic Indigenous and Private State of Xaragua
Official Classification: Supreme Constitutional Financial Instrument — Indigenous Monetary Code — State Treasury Statute — Institutional Protection Decree — Ecclesiastical Patrimonial Framework — Non-Reproducible Sovereign Structure — Executable Ex Proprio Vigore within the Constitutional Order of Xaragua
PREAMBLE
The Sovereign Catholic Indigenous and Private State of Xaragua, acting through the Office of the Rector-President in the exercise of its constituent, constitutional, patrimonial, monetary, institutional, customary, and ecclesiastical competencies, hereby consolidates the juridical status, internal organization, governing authority, operational mandate, monetary instruments, financial controls, technological infrastructure, proprietary architecture, and permanent national assignment of the Indigenous Bank of Xaragua.
The Indigenous Bank of Xaragua constitutes the central financial institution of the Xaraguayan constitutional order. It is established as the exclusive organ responsible for the custody of the State Treasury, administration of the Viaud’or monetary system, classification of public financial instruments, organization of internal credit mechanisms, management of institutional reserves, execution of authorized payments, maintenance of financial records, supervision of affiliated financial structures, and protection of the proprietary banking architecture of Xaragua.
The Bank derives its internal authority exclusively from the constitutional law, customary law, financial legislation, institutional acts, and duly promulgated decrees of Xaragua. Its establishment does not depend upon incorporation, authorization, delegation, concession, or licensing issued by any authority external to the Xaraguayan constitutional order.
The legal personality, jurisdictional competence, regulatory powers, proprietary rights, public functions, institutional nomenclature, official symbols, accounting classifications, monetary protocols, digital systems, and operational instruments of the Bank shall be interpreted exclusively according to their designated function within Xaragua.
For the purposes of the present Code, the designation sacred financial institution constitutes a formal classification of permanent national assignment. It identifies the Bank as an institution placed under reinforced constitutional, patrimonial, customary, and ecclesiastical protection. Such classification shall not replace the technical, accounting, fiduciary, administrative, or documentary requirements applicable to the Bank under Xaraguayan law.
FOUNDATIONAL REFERENCES
The present Code shall be administered within the constitutional order of Xaragua with reference, where materially applicable, to the following instruments and principles:
The Constitution and Financial Code of Xaragua;
The customary institutional law of the Indigenous People of Xaragua;
The United Nations Declaration on the Rights of Indigenous Peoples, including Articles 3, 4, 5, 18, 20, 26, 31, 32, 33, 34, 37, 39, 40, and 46;
The International Covenant on Civil and Political Rights, Article 1;
The International Covenant on Economic, Social and Cultural Rights, Article 1;
International Labour Organization Convention No. 169, where applicable, including its provisions concerning indigenous institutions, customs, consultation, development, traditional activities, and economic conditions;
The Statute of the International Court of Justice, Article 38, concerning the recognized sources of international legal reasoning;
The general principles governing juridical personality, institutional continuity, contractual capacity, property, attribution, fiduciary administration, documentary authenticity, and protection against misrepresentation;
The Paris Convention for the Protection of Industrial Property, including Article 10bis, where applicable to acts of unfair competition;
The Berne Convention, where applicable to protected literary, artistic, graphic, documentary, or software-based works;
The Convention Establishing the World Intellectual Property Organization and the developing international framework concerning traditional knowledge and traditional cultural expressions;
The Code of Canon Law, including the norms concerning associations of the faithful, juridical persons, temporal goods, pious causes, administration, accountability, and ecclesiastical patrimony;
The Concordat of 1860, as received, historically interpreted, and institutionally incorporated within the internal ecclesiastical doctrine of Xaragua;
The internal statutes of the Catholic Order of Xaragua;
The duly authenticated decrees, regulations, monetary directives, treasury instructions, and administrative decisions issued by the Rector-President.
No reference to an external instrument shall be interpreted as transferring the constituent authority of Xaragua to an external institution or as creating an automatic external status beyond the scope established by the instrument concerned.
TITLE I — CONSTITUTIONAL STATUS AND NATIONAL ASSIGNMENT
Article 1 — Constitutional Establishment
The Indigenous Bank of Xaragua, established on March 29, 2025, is confirmed as a permanent institution of the Sovereign Catholic Indigenous and Private State of Xaragua.
The Bank possesses an internal juridical personality distinct from its officers, administrators, custodians, beneficiaries, contractors, account holders, and technological service providers.
Its institutional continuity shall not be interrupted by the replacement, incapacity, resignation, death, suspension, or administrative reorganization of any individual officeholder.
Article 2 — Official Designations
The institution may lawfully operate under the following official designations:
Indigenous Bank of Xaragua;
Xaragua Indigenous Bank;
Central Financial Institution of Xaragua;
National Treasury and Monetary Authority of Xaragua;
Sacred Indigenous Financial System of Xaragua, when referring to the consolidated constitutional, patrimonial, monetary, and ecclesiastical framework established by this Code.
No administrative abbreviation, commercial interface, payment descriptor, technological identifier, or contracted service name shall replace the Bank’s constitutional designation.
Article 3 — Institutional Character
The Bank is classified within Xaragua as:
a central treasury institution;
a monetary authority;
an indigenous public financial institution;
a constitutional patrimonial organ;
a non-shareholding institution;
a non-transferable national structure;
a custodian of designated ecclesiastical and customary funds;
an administrator of sovereign internal financial instruments;
a permanent strategic infrastructure of the State;
a protected and non-reproducible institutional system.
The Bank shall not be converted into a privately owned commercial bank, transferred to shareholders, pledged as private collateral, partitioned among officeholders, or alienated from the State.
Article 4 — Supreme Financial Authority
Supreme constitutional authority over the Bank is vested in the Office of the Rector-President.
The Rector-President shall exercise the following non-delegable powers:
promulgation of monetary statutes;
approval of the Viaud’or issuance framework;
appointment or removal of the Bank’s senior authorities;
approval of national reserve classifications;
authorization of institutional financial instruments;
ratification of international financial agreements concluded in the name of Xaragua;
imposition of internal protective measures;
suspension of unauthorized operations;
final determination of institutional identity and nomenclature;
authorization or prohibition of any reproduction or licensing of the Xaraguayan banking model.
Technical, administrative, accounting, custodial, or execution functions may be delegated by authenticated instrument without transferring the supreme constitutional competence of the Rector-President.
Article 5 — Exclusivity of Jurisdiction
Within the legal order of Xaragua, the Bank is governed exclusively by:
the Constitution of Xaragua;
the present Code;
the National Financial Code;
duly promulgated monetary decrees;
treasury regulations;
internal audit standards;
authorized ecclesiastical patrimonial rules;
valid institutional contracts;
customary financial law recognized by the State.
No private association, ministry, auxiliary institution, external platform, contractor, citizen, officer, or religious body may independently exercise the constitutional functions reserved to the Bank.
TITLE II — INSTITUTIONAL ARCHITECTURE
Article 6 — Constituent Organs
The Indigenous Bank of Xaragua shall comprise:
the Supreme Financial and Monetary Authority;
the Central Reserve Treasury;
the Office of Monetary Issuance;
the Viaud’or Registry;
the Sovereign Investment Division;
the Indigenous Credit Authority;
the National Payments and Settlement Directorate;
the Institutional Accounts Directorate;
the Retirement, Assurance, and Social Funds Directorate;
the Development Finance Directorate;
the Digital Financial Infrastructure Directorate;
the Financial Integrity and Internal Audit Directorate;
the Office of Institutional Protection and Documentary Authentication;
any additional organ established by decree of the Rector-President.
Article 7 — Central Reserve Treasury
The Central Reserve Treasury is the principal accounting and custodial structure of the State.
It shall:
maintain the consolidated ledger of public funds;
classify reserves according to liquidity, purpose, restriction, and institutional ownership;
record all authorized receipts and disbursements;
maintain the official register of treasury accounts;
distinguish State assets from institutional, fiduciary, ecclesiastical, charitable, and third-party assets;
maintain documentary evidence of every designated reserve;
prohibit the commingling of public and personal funds;
produce periodic internal financial statements;
preserve a continuous audit trail;
execute treasury instructions authenticated by the competent authority.
Any account operated through an external financial service provider shall constitute an operational instrument or custodial node of the Treasury only when formally designated as such in the National Treasury Register.
Article 8 — Sovereign Investment Division
The Sovereign Investment Division, including any structure designated as the Leblanc Investment Fund, shall administer only those assets formally assigned to it by the State.
Its activities shall be governed by:
capital-preservation requirements;
written investment mandates;
risk classifications;
diversification standards;
liquidity requirements;
counterparty controls;
internal reporting obligations;
prohibitions against undisclosed personal benefit;
authorization thresholds;
permanent documentary traceability.
No investment platform, securities account, fund manager, or intermediary used by the Division shall thereby acquire constitutional authority within Xaragua.
Article 9 — Indigenous Credit Authority
The Indigenous Credit Authority shall administer internal credit, secured contribution arrangements, development financing, cooperative lending, institutional advances, and approved payment plans.
No credit instrument shall be issued without:
an identified creditor;
an identified debtor;
a determinable principal amount;
a stated currency or unit of account;
a repayment schedule;
a defined maturity or settlement condition;
a risk assessment;
a written authorization;
an accounting entry;
an enforceable internal instrument.
Third-party credit cards, secured-card arrangements, payment facilities, or commercial credit products shall remain external service instruments and shall not be represented as instruments issued by the Indigenous Bank unless the Bank is the actual juridical issuer.
Article 10 — Operational Accounts and Financial Nodes
The Bank may establish operational accounts, payment wallets, custodial arrangements, correspondent relationships, reserve accounts, collection accounts, disbursement accounts, and technological interfaces.
Each external node shall be classified as one of the following:
State-owned operational account;
institutional custodial account;
payment-processing interface;
reserve-holding arrangement;
fiduciary account;
restricted-purpose account;
ecclesiastical patrimonial account;
charitable or educational fund;
investment account;
temporary settlement account.
The use of an external platform shall not convert that platform into the Central Bank of Xaragua, confer diplomatic status upon the provider, or transfer ownership of the Xaraguayan financial system.
Article 11 — Payment Cards and Access Instruments
The Bank may authorize debit cards, prepaid access instruments, account credentials, payment identifiers, or other transaction devices connected to duly registered accounts.
Every such instrument shall clearly identify:
the actual issuer;
the responsible account provider;
the designated user;
the applicable balance or credit limit;
the authorized institutional purpose;
the currency of settlement;
the governing contractual conditions;
the internal Xaraguayan classification assigned to the instrument.
The constitutional designation of an instrument within Xaragua shall remain distinct from the contractual designation applied by the external issuer or payment network.
TITLE III — THE VIAUD’OR MONETARY SYSTEM
Article 12 — Official Monetary Unit
The Viaud’or, abbreviated VDO, is established as the official monetary unit and sovereign unit of account of Xaragua.
It may exist in:
documentary form;
accounting form;
physical commemorative or circulating form;
digitally recorded form;
cryptographically represented form;
any additional form authorized by monetary decree.
No representation of the Viaud’or shall be issued, circulated, sold, pledged, converted, or advertised without authorization from the Indigenous Bank.
Article 13 — Monetary Authority
The Indigenous Bank possesses exclusive internal authority to:
define the Viaud’or;
determine its denominations;
authorize its issuance;
maintain the issuance ledger;
prescribe its official symbols;
establish conversion procedures;
determine redemption conditions;
suspend or retire an issuance series;
regulate custodial and transactional use;
authenticate official Viaud’or instruments.
No ministry, association, campus, mission, commercial enterprise, citizen, contractor, or affiliated institution may independently issue Viaud’or.
Article 14 — Monetary Classification
Within the constitutional order of Xaragua, the Viaud’or may function as:
the official State unit of account;
a treasury accounting instrument;
an internal settlement unit;
a denominational standard for public obligations;
a digital or physical monetary instrument;
a restricted institutional token;
a reserve certificate where expressly authorized;
a contribution or disbursement unit;
a contractual unit where accepted by the parties;
an official representation of the financial authority of Xaragua.
Its designation as the official monetary unit of Xaragua shall not be interpreted as attributing acceptance obligations to persons or institutions situated outside the jurisdiction of Xaragua without their consent.
Article 15 — Reserve Doctrine
Every Viaud’or issuance shall be governed by an identifiable monetary basis established by decree.
The monetary basis may include:
allocated liquid reserves;
designated precious-metal reserves;
verified State receivables;
legally documented contractual assets;
income-producing State property;
specifically appropriated institutional revenue;
restricted development funds;
other measurable assets admitted by the Monetary Authority.
Ancestral territory, mineral potential, historical patrimony, or unextracted natural resources may be recorded as elements of national patrimonial accounting but shall not be classified as immediately liquid reserves unless legal title, valuation, availability, and enforceable allocation have been formally established.
Article 16 — Issuance Discipline
No issuance shall occur without:
a monetary decree;
a defined issuance ceiling;
an identified series;
a date of issuance;
a reserve or accounting classification;
an authorized distribution mechanism;
a public or restricted-use designation;
a transaction ledger;
rules governing redemption or cancellation;
an internal audit procedure.
All unauthorized Viaud’or representations are institutionally void within Xaragua.
Article 17 — Conversion
The Bank may accept payments or contributions denominated in external currencies and record their value in Viaud’or.
Conversion shall require:
identification of the external currency;
identification of the applicable conversion rate;
date and time of conversion;
identification of transaction costs;
entry in the appropriate ledger;
issuance of an authenticated receipt;
classification of the resulting funds;
preservation of the original settlement record.
Conversion into Viaud’or shall not conceal, erase, or alter the origin, ownership, legal character, or transaction history of the external funds.
Article 18 — Prohibition of Misrepresentation
No person may represent that the Viaud’or:
possesses a guaranteed external exchange value without an enforceable redemption mechanism;
is accepted by a financial institution that has not expressly accepted it;
is insured by a third-party authority without written confirmation;
is backed by assets not entered in the official reserve ledger;
confers immunity from contractual obligations;
automatically supersedes external currencies or payment systems;
has been recognized by an external government or institution absent authenticated evidence.
All official representations concerning the Viaud’or shall be issued or approved by the Monetary Authority.
TITLE IV — NATIONAL TREASURY, ACCOUNTS, AND PUBLIC FUNDS
Article 19 — Classification of Accounts
Accounts associated with the Bank shall be classified internally as Xaraguayan State Financial Accounts and assigned to one of the categories established by Article 10.
Internal classification does not merge distinct account holders, erase beneficial ownership, or alter the contractual identity recorded by a service provider.
Article 20 — Separation of Assets
The following classes of assets shall be maintained separately:
constitutional State assets;
operating revenue;
restricted public funds;
investment capital;
ecclesiastical patrimony;
charitable funds;
university funds;
pension and assurance reserves;
fiduciary assets;
deposits or funds beneficially owned by third parties;
personal assets of State officers.
No State officer shall treat public, institutional, charitable, ecclesiastical, or fiduciary assets as personal property.
Article 21 — Documentary Integrity
Every material financial operation shall generate an institutional record containing:
the transaction date;
the parties or accounts concerned;
the amount;
the currency or unit of account;
the institutional purpose;
the authorizing authority;
the execution channel;
supporting documentation;
the accounting classification;
the retention designation.
Electronic records bearing an approved authentication mechanism shall possess the same internal evidentiary force as paper records.
Article 22 — Internal Audit
The Bank shall maintain a Financial Integrity and Internal Audit Directorate independent from routine payment execution.
The Directorate shall be competent to:
verify account balances;
reconcile ledgers;
examine reserve statements;
review authorizations;
inspect conflicts of interest;
identify unauthorized commingling;
examine procurement and investment operations;
test access controls;
report material irregularities;
order temporary administrative suspension pending a final decision.
The Rector-President shall receive consolidated audit reports at intervals prescribed by regulation.
Article 23 — Restricted Access
Access to accounts, ledgers, credentials, encryption keys, reserve documentation, and payment infrastructure shall be granted according to the principles of:
minimum necessary privilege;
separation of functions;
dual authorization for material transactions;
individual attribution of credentials;
prohibition of credential sharing;
immediate revocation upon termination of authority;
transaction logging;
secure archival retention;
incident reporting;
periodic access review.
TITLE V — FINANCIAL FUNCTIONS OF THE STATE
Article 24 — Authorized Functions
The Bank may perform the following functions within the constitutional and institutional order of Xaragua:
maintain the State Treasury;
administer the Viaud’or system;
establish internal reserve policy;
execute authorized public payments;
receive contributions, fees, donations, grants, and institutional revenue;
administer development funds;
provide internal credit facilities;
maintain cooperative financing mechanisms;
administer pensions, retirement reserves, and assistance funds;
administer life-assurance or mutual-benefit structures created by statute;
finance educational, religious, humanitarian, cultural, and territorial programs;
administer land-development obligations and duly authorized bonds;
process stipends, salaries, institutional allowances, and reimbursements;
facilitate domestic and cross-border transfers through authorized channels;
conclude contractual relationships with financial and technological service providers;
maintain institutional accounts for the University of Xaragua, the Catholic Order of Xaragua, State ministries, and authorized public bodies;
provide financial infrastructure for citizens and accredited institutions;
issue authenticated treasury statements and financial certificates.
Article 25 — Institutional Accounts
The University of Xaragua, the Catholic Order of Xaragua, ministries, missions, delegations, development authorities, and other recognized organs may receive and disburse funds through the Bank.
Each participating institution shall possess:
a distinct account classification;
a written mandate;
an identified administrator;
an authorized-signatory register;
a defined budget;
documented revenue sources;
expenditure controls;
periodic reporting requirements;
an archival file;
an internal review mechanism.
Article 26 — Development Bonds and Obligations
The Bank may administer development bonds, land-related obligations, infrastructure certificates, contribution certificates, or other public financial instruments authorized by statute.
Every instrument shall state:
the issuing organ;
its juridical nature;
its face value;
its currency;
its purpose;
its maturity, if any;
its payment or redemption terms;
its security or reserve basis;
its transferability;
the competent jurisdiction;
all material limitations;
the authenticated signature or digital seal.
No instrument shall be represented as externally guaranteed without an enforceable written guarantee.
TITLE VI — INCLUSIVE ACCESS AND DEFERRED CONTRIBUTIONS
Article 27 — Equal Institutional Access
Access to the internal financial infrastructure of Xaragua shall not be denied solely on the basis of poverty, temporary inability to pay an administrative fee, geographic location, disability, or absence from the territorial communities of Xaragua.
Eligibility shall remain subject to:
identity verification;
institutional status;
applicable citizenship or affiliation requirements;
account-purpose classification;
internal financial-integrity controls;
acceptance of the Bank’s governing instruments.
Article 28 — Deferred Contribution Mechanism
The Bank may authorize deferred payment of account-opening charges, administrative contributions, membership-related assessments, or essential service fees.
A deferred contribution agreement shall state:
the total obligation;
the installment schedule;
the payment currency;
the applicable Viaud’or conversion procedure;
any administrative charge;
the consequences of non-payment;
the services immediately available;
the services conditionally restricted;
the competent internal authority;
the date and authentication of the agreement.
No deferred payment mechanism shall convert a public or charitable program into an undisclosed commercial credit arrangement.
Article 29 — Protection of Vulnerable Participants
The Bank may establish reduced contributions, temporary waivers, staged access, solidarity funds, and subsidized services for eligible persons.
Such measures shall be governed by objective criteria, recorded by the competent authority, and administered without unauthorized discrimination or personal appropriation.
TITLE VII — ECCLESIASTICAL AND PATRIMONIAL FUNCTIONS
Article 30 — Ecclesiastical Treasury Classification
The Bank may act as custodian and administrator of funds assigned to:
divine worship;
ecclesiastical formation;
religious education;
charitable works;
humanitarian relief;
preservation of sacred sites;
support of ministers and institutional personnel;
Catholic missions;
recognized pious causes;
the lawful patrimonial purposes of the Catholic Order of Xaragua.
Ecclesiastical funds shall be separately classified and shall not be merged with unrestricted State revenue.
Article 31 — Competent Ecclesiastical Authority
The Catholic Order of Xaragua and the competent ecclesiastical organs established by Xaragua may issue internal patrimonial directives within the scope of their constitutive statutes.
No ecclesiastical organ shall independently:
issue national currency;
alter the Viaud’or ledger;
assume control of the State Treasury;
pledge unrestricted public assets;
represent itself as the Indigenous Bank;
bind the State without financial authorization.
Ecclesiastical patrimonial authority and State monetary authority shall remain institutionally coordinated but juridically distinct.
Article 32 — Canonical Administration
Administration of ecclesiastically designated assets shall comply with the applicable internal statutes concerning:
juridical personality;
ownership;
authorized administration;
fiduciary responsibility;
inventory;
accounting;
alienation;
restricted gifts;
pious intentions;
preservation of institutional patrimony.
Canonical classification shall not eliminate the Bank’s obligation to maintain accurate internal accounts and authenticated records.
Article 33 — Non-Commercial Character
The classification of the Bank as a non-shareholding, public, indigenous, or ecclesiastically protected institution means that it shall not be organized for the private distribution of profits to owners or officeholders.
This classification shall not prohibit the Bank from:
entering contracts;
paying operating expenses;
receiving fees;
employing personnel;
purchasing services;
investing reserves;
financing projects;
earning lawful institutional revenue;
maintaining contingency reserves;
recovering administrative costs.
Any institutional surplus shall remain assigned to the purposes of Xaragua.
TITLE VIII — EXTERNAL FINANCIAL RELATIONS
Article 34 — Contractual Capacity
The Bank may conclude agreements with:
indigenous governments and institutions;
religious bodies;
universities;
charitable organizations;
development institutions;
payment processors;
financial institutions;
investment platforms;
technological providers;
public or private counterparties;
other entities approved by the Rector-President.
All agreements shall identify the actual parties, scope of service, governing law, financial obligations, termination provisions, data responsibilities, and dispute-settlement mechanism.
Article 35 — External Operational Compliance
Accounts, cards, transfers, investment products, technological platforms, and payment services supplied by an external provider shall remain subject to the provider’s contractual framework and to the rules applicable to that provider.
The Bank shall preserve its internal constitutional characterization of those assets and operations without attributing to them an external immunity, exemption, guarantee, or legal status not formally accepted by the competent external authority.
Article 36 — Cross-Border Transactions
All cross-border transactions shall be:
authorized by a competent officer;
entered in the Treasury ledger;
supported by documentary evidence;
assigned a lawful institutional purpose;
traceable to their origin and beneficiary;
executed through an approved channel;
reconciled after settlement;
retained in the permanent financial archive.
No external transfer shall be divided, relabeled, routed, or converted for the purpose of concealing its institutional origin, beneficial destination, or accounting nature.
Article 37 — International Representation
The Bank may present its constitutional status, indigenous financial mandate, institutional objectives, and contractual capacity to external governments, organizations, financial institutions, tribunals, religious authorities, and indigenous forums.
Such representation may seek:
institutional cooperation;
recognition of internal documents;
access to services;
contractual accommodation;
protection of names and symbols;
restitution for misappropriation;
participation in development initiatives;
negotiated financial arrangements.
No submission, notification, diplomatic communication, registry entry, or institutional correspondence shall be represented as acceptance or recognition unless the recipient has expressly communicated that effect.
TITLE IX — FINANCIAL INTEGRITY AND REGULATORY DISCIPLINE
Article 38 — Institutional Integrity
The Bank shall maintain an internal financial-integrity framework proportionate to its activities.
The framework shall include:
verification of institutional participants;
identification of authorized signatories;
identification of the beneficial destination of funds;
transaction records;
prevention of unauthorized diversion;
conflict-of-interest controls;
protection against identity misuse;
investigation of anomalous transactions;
incident documentation;
suspension of compromised access.
Article 39 — Prohibited Conduct
The following conduct is prohibited within Xaragua:
unauthorized creation of an account in the Bank’s name;
use of the Bank’s identity to solicit funds without mandate;
issuance of fictitious Viaud’or;
falsification of treasury certificates;
misrepresentation of reserves;
unauthorized use of public funds;
commingling of public and personal assets;
concealment of beneficial ownership from the Bank;
fabrication of institutional recognition;
misuse of ecclesiastical classifications for private enrichment;
unauthorized duplication of payment interfaces;
unauthorized possession or transfer of Bank credentials;
destruction or alteration of financial records;
impersonation of a financial officer;
diversion of charitable, university, pension, or development funds;
presentation of a third-party commercial product as a State-issued instrument.
Article 40 — Internal Sanctions
Violations may result in:
suspension of access;
revocation of institutional credentials;
cancellation of unauthorized instruments;
restitution orders;
internal financial penalties;
disqualification from public office;
exclusion from institutional contracting;
entry in the Xaragua Restricted Counterparty Register;
referral to the competent Xaraguayan court or tribunal;
external notification where a violation affects a third-party platform or jurisdiction.
Sanctions shall be documented, proportionate, attributable to a competent authority, and subject to the procedures established by Xaraguayan law.
TITLE X — OWNERSHIP AND NON-REPRODUCIBILITY
Article 41 — Exclusive Institutional Ownership
The following elements are the exclusive institutional property of Xaragua:
the name Indigenous Bank of Xaragua;
the designation Sacred Indigenous Financial System of Xaragua;
the name and official representation of the Viaud’or;
official seals, insignia, certificates, and monetary symbols;
constitutional and regulatory texts produced by Xaragua;
proprietary software and source code;
database structures;
accounting taxonomies;
authentication protocols;
institutional templates;
internal financial manuals;
reserve classifications;
distinctive financial products;
official digital interfaces;
the consolidated institutional architecture established by this Code.
Ownership shall be held by the State and administered under the authority of the Rector-President.
Article 42 — Scope of Protection
Protection extends to the Bank’s:
juridical identity;
constitutional organization;
monetary nomenclature;
graphical identity;
documentary system;
operational architecture;
technological implementation;
internal financial terminology;
official publications;
confidential protocols;
authenticated instruments;
distinctive combination of institutional components.
Protection of the Xaraguayan model shall not be interpreted as ownership of generic banking practices, universally used accounting procedures, public-domain legal concepts, standard financial terminology, or independently developed systems lacking substantial appropriation of Xaragua’s protected expression or identity.
Article 43 — Prohibited Reproduction
Without written authorization from the Office of the Rector-President, no person or institution may:
establish a financial institution under the name of the Indigenous Bank of Xaragua;
issue a currency, token, certificate, or instrument designated as Viaud’or or VDO;
reproduce official seals or certificates;
operate a website or platform falsely presented as an official banking interface of Xaragua;
claim authorization from the Bank where none exists;
reproduce protected software, documentation, designs, or databases;
impersonate the Bank’s authorities;
solicit deposits, contributions, investments, or fees in the Bank’s name;
create a derivative institution reasonably likely to produce confusion as to official affiliation;
integrate a third-party platform into the Xaragua financial architecture without formal authorization;
use the name SAFI, or any other protected institutional designation, as an official component of the Xaraguan system without authorization;
represent an imitation as a continuation, subsidiary, delegation, mission, or licensed branch of the Bank.
Article 44 — Nullity Within Xaragua
Any unauthorized act of reproduction, representation, delegation, issuance, licensing, registration, or institutional affiliation shall be null ab initio within the constitutional order of Xaragua.
Such nullity shall entail no obligation upon the State, the Bank, the Treasury, the Rector-President, the University of Xaragua, or the Catholic Order of Xaragua.
Article 45 — Authorized Licensing
The Rector-President may authorize limited use of specified components through a written license identifying:
the authorized party;
the protected component;
the permitted territory or platform;
the institutional purpose;
the duration;
the conditions of use;
the security requirements;
the prohibition of sublicensing;
the reporting obligations;
the termination and revocation procedures.
No authorization shall be presumed from silence, correspondence, access to public documents, technical cooperation, religious affiliation, citizenship, or participation in an institutional program.
Article 46 — Enforcement Measures
In response to unauthorized reproduction or misrepresentation, the Bank may:
issue a formal cease-and-desist order;
revoke credentials;
cancel internal recognition;
invalidate counterfeit instruments;
notify affected counterparties;
publish an authenticated institutional clarification;
preserve evidence;
seek contractual, administrative, judicial, or intellectual-property remedies before a competent forum;
request suspension of fraudulent accounts, websites, or payment interfaces;
pursue restitution, compensation, or injunctive protection where jurisdiction permits.
Public institutional notice shall distinguish verified infringement from unresolved allegation.
TITLE XI — DIGITAL FINANCIAL JURISDICTION
Article 47 — Official Digital Domain
The official digital financial domain of Xaragua comprises:
websites formally designated by the State;
authenticated banking portals;
authorized payment interfaces;
official institutional email addresses;
cryptographic signature systems;
digital seals;
treasury databases;
Viaud’or registries;
approved archival repositories;
digital credentials issued by competent authority.
The publication of content on a third-party platform shall not transfer ownership of the underlying State instrument.
Article 48 — Authentication
A digital financial instrument shall be considered authentic within Xaragua when it contains the authentication elements prescribed by regulation, including one or more of the following:
qualified institutional signature;
cryptographic verification code;
official serial number;
registry reference;
timestamp;
authenticated seal;
verification address;
entry in the State Financial Archive.
Screenshots, unofficial copies, altered documents, isolated text extracts, or unverified electronic messages shall not constitute conclusive evidence of authorization.
Article 49 — Cybersecurity
The Digital Financial Infrastructure Directorate shall establish controls governing:
encryption;
identity verification;
access management;
credential issuance;
backup and recovery;
transaction integrity;
incident response;
platform continuity;
compromise notification;
archival preservation;
vendor access;
protection of personal and institutional data.
Any material compromise shall be reported immediately to the Rector-President and the Financial Integrity Directorate.
Article 50 — Institutional Data
Financial records, account registries, transactional data, internal communications, monetary ledgers, institutional credentials, and technical documentation are protected State information.
Disclosure may occur only:
with authorization;
pursuant to an internal judicial order;
to execute a valid contractual obligation;
to protect the Bank against fraud or unauthorized use;
to satisfy a binding requirement applicable to an external account or provider;
where necessary to defend the legal interests of Xaragua;
in an anonymized or aggregated institutional report.
TITLE XII — JURISDICTION, DISPUTES, AND REMEDIES
Article 51 — Internal Jurisdiction
Disputes arising exclusively under the Constitution, monetary decrees, treasury rules, internal accounts, Viaud’or instruments, institutional mandates, or proprietary rights of Xaragua shall be submitted to the competent Xaraguayan authority.
The competent authority may order:
interpretation;
suspension;
restitution;
correction of records;
cancellation of instruments;
preservation of evidence;
administrative disqualification;
institutional compensation;
publication of an official rectification;
any other remedy established by Xaraguayan law.
Article 52 — External Contractual Disputes
Where a transaction involves an external provider, counterparty, platform, asset, account, or contractual jurisdiction, the dispute shall be managed according to:
the governing contract;
the jurisdictional clause;
the applicable property or account regime;
the recognized dispute-resolution mechanism;
any valid agreement concluded by the Bank.
The internal law of Xaragua shall govern the attribution and authorization of its officers, while the external contract shall govern the obligations accepted toward the counterparty.
Article 53 — Indigenous Remedies
The State may invoke the institutional, cultural, economic, patrimonial, and procedural protections available to indigenous peoples before competent forums, particularly in matters involving:
misappropriation of indigenous institutional identity;
unauthorized use of cultural or traditional expressions;
exclusion from economic development;
deprivation of community resources;
discriminatory denial of institutional participation;
destruction or seizure of protected indigenous patrimony;
denial of fair procedures;
infringement of collective intellectual or cultural interests.
No external remedy shall be declared automatically acquired before the competent forum has accepted jurisdiction and rendered a determination.
TITLE XIII — NATIONAL REGISTRATION AND ARCHIVES
Article 54 — Constitutional Registration
The Bank shall be permanently entered in:
the Supreme Constitutional Archive of Xaragua;
the National Register of Public Institutions;
the National Treasury Register;
the Register of Indigenous Juridical Persons;
the Viaud’or Monetary Register;
the Digital Institutional Authentication Register;
the Ecclesiastical Patrimony Register, for assets formally assigned to religious purposes;
any additional register established by decree.
Article 55 — External Filings
Any transmission, notification, submission, petition, archival deposit, or registration addressed to an external institution shall be recorded with:
the date of transmission;
the sending authority;
the recipient;
the transmitted instrument;
the method of transmission;
proof of delivery;
the response received;
the exact procedural or juridical effect of the filing.
Proof of transmission or receipt shall not be classified as substantive recognition unless the recipient expressly states that consequence.
Article 56 — Permanent Financial Archive
The permanent archive shall preserve:
constitutive acts;
monetary decrees;
account mandates;
reserve records;
audit reports;
contracts;
transaction ledgers;
Viaud’or issuance records;
licenses;
institutional correspondence;
external filings;
incident reports;
sanctions;
annual financial syntheses;
authenticated amendments.
Destruction, concealment, unauthorized alteration, or removal of an official financial record constitutes an institutional offense.
TITLE XIV — SUPREMACY, CONTINUITY, AND FINAL PROVISIONS
Article 57 — Consolidation of Prior Instruments
The present Code consolidates the State policy instruments dated May 8, May 11, and May 16, 2025, concerning:
the institutional status of the Indigenous Bank of Xaragua;
the Viaud’or monetary system;
the protection of the Xaraguayan banking model;
ecclesiastical and patrimonial administration;
financial autonomy;
institutional non-reproducibility;
national treasury functions;
inclusive financial access.
All prior provisions shall remain effective only to the extent that they are compatible with the present consolidated instrument.
Article 58 — Rule of Interpretation
The present Code shall be interpreted to preserve:
the constitutional authority of Xaragua;
the continuity of the Bank;
the integrity of the Treasury;
the distinction between internal status and external contractual operation;
the accuracy of institutional representations;
the separation of public and personal property;
the integrity of the Viaud’or;
the protection of ecclesiastical and indigenous patrimony;
the enforceability of valid financial obligations;
the exclusive ownership of Xaragua’s protected institutional identity.
No provision shall be interpreted to authorize an officer to fabricate recognition, conceal financial records, misstate reserves, appropriate public assets, bind the State without authority, or attribute to an external account a status not established by its governing instrument.
Article 59 — Non-Derogation by Administrative Act
No ministerial memorandum, operational contract, private agreement, account designation, technological arrangement, or administrative decision may abolish, transfer, privatize, or materially subordinate the Indigenous Bank of Xaragua.
Any structural modification requires an authenticated constitutional instrument issued by the Rector-President.
Article 60 — Institutional Permanence
The Indigenous Bank of Xaragua is declared a permanent national institution.
Its constitutional existence shall survive:
administrative reorganization;
suspension of a service provider;
closure or migration of an operational account;
replacement of technological infrastructure;
modification of Viaud’or issuance procedures;
reorganization of ministries;
termination of an external contract;
relocation of administrative operations.
No external platform, account, wallet, card, corporate product, or service provider constitutes the Bank itself.
Article 61 — Severability
If any provision is declared inapplicable by a competent authority in a particular contractual or external jurisdictional context, the remaining provisions shall retain full force within the constitutional order of Xaragua.
The invalidity or inapplicability of one operational mechanism shall not abolish the Bank, the Treasury, the Viaud’or Registry, or the institutional rights of Xaragua.
Article 62 — Entry into Force
The present consolidated Code shall enter into force immediately upon promulgation and shall govern all financial institutions, monetary instruments, treasury accounts, external nodes, ecclesiastical funds, digital systems, officers, contractors, and affiliated bodies operating under the authority or official identity of Xaragua.
PROMULGATED AND SEALED BY ORDER OF
MONSIGNOR PASCAL VIAU
RECTOR-PRESIDENT
SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA
Original Institutional Authority: March 29, 2025

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA
OFFICE OF THE RECTOR-PRESIDENT
SUPREME FINANCIAL, MONETARY, AND JURISDICTIONAL AUTHORITY
CONSTITUTIONAL CHARTER OF THE INDIGENOUS BANK OF XARAGUA
Establishing the Indigenous Bank, the Viaud’or Monetary Authority, the National Financial Jurisdiction, and the Regime Governing Jurisdictional Selection in Economic, Commercial, Contractual, and Ecclesiastical Matters
Institutional Establishment: April 12, 2025
Jurisdictional Consolidation: May 19, 2025
Issuing Authority: Office of the Rector-President
Executable Ex Proprio Vigore within the Constitutional Order of Xaragua
PREAMBLE
The Sovereign Catholic Indigenous and Private State of Xaragua, acting through the Office of the Rector-President in the exercise of its constituent, constitutional, customary, territorial, monetary, patrimonial, economic, judicial, and ecclesiastical competencies, hereby establishes and permanently constitutes the Indigenous Bank of Xaragua, hereinafter designated as XaraBank, as the central financial, monetary, treasury, credit, reserve, settlement, and institutional banking authority of the Xaraguayan constitutional order.
XaraBank derives its existence, legal personality, national mandate, institutional continuity, and regulatory competence from the Constitution of Xaragua, the customary legal order of the Xaraguayan Indigenous People, the duly promulgated financial acts of the State, and the permanent authority of the Office of the Rector-President.
The Bank constitutes an autonomous organ of public authority within Xaragua. It shall administer the national monetary system, issue and regulate the Viaud’or, maintain the Central Reserve Treasury, supervise public financial instruments, organize internal credit facilities, administer authorized development funds, preserve designated ecclesiastical patrimony, and provide the financial infrastructure required for the institutional continuity of the State.
The establishment of XaraBank constitutes an exercise of the right of the Xaraguayan Indigenous People to maintain, develop, govern, and protect their political, juridical, economic, social, cultural, and institutional structures. This exercise shall be interpreted with reference to Articles 3, 4, 5, 18, 20, 23, 26, 31, 32, 33, 34, 37, 39, 40, and 46 of the United Nations Declaration on the Rights of Indigenous Peoples.
No reference to international, canonical, foreign, comparative, or contractual law shall diminish the constituent authority from which XaraBank derives its existence within Xaragua. External legal instruments may be incorporated, invoked, applied, or contractually selected only in accordance with the constitutional procedures established by the present Charter.
TITLE I — NAME, LEGAL PERSONALITY, AND CONSTITUTIONAL STATUS
Article 1 — Official Name
The institution established by the present Charter shall be officially designated as:
INDIGENOUS BANK OF XARAGUA — XARABANK
The following designations may also be employed in authenticated State instruments:
Central Financial Institution of Xaragua;
National Monetary Authority of Xaragua;
Central Reserve Treasury of Xaragua;
Sacred Indigenous Financial System of Xaragua;
Xaraguayan Indigenous Monetary and Banking Authority.
No abbreviated, operational, commercial, technological, or contractual designation shall replace the constitutional identity of the Bank.
Article 2 — Juridical Personality
XaraBank possesses permanent juridical personality within the constitutional order of Xaragua.
It shall possess the capacity to:
own, acquire, administer, preserve, and dispose of property according to Xaraguayan law;
maintain treasury, reserve, custodial, operational, investment, settlement, and fiduciary accounts;
conclude contracts;
issue authorized monetary and financial instruments;
administer internal credit;
receive grants, donations, contributions, fees, appropriations, and institutional revenue;
employ officers and personnel;
engage technological and financial service providers;
appear before competent tribunals;
protect its institutional identity and proprietary rights;
exercise every additional competence attributed by the Constitution or by decree.
The juridical personality of the Bank shall remain distinct from the personal identity and property of the Rector-President, the Governor of the Bank, its administrators, officers, employees, contractors, account users, and beneficiaries.
Article 3 — Institutional Classification
Within Xaragua, XaraBank is classified as:
a constitutional financial institution;
an indigenous public authority;
a central monetary organ;
a national treasury institution;
a non-shareholding State body;
a non-transferable and inalienable public structure;
a custodian of designated ecclesiastical and customary patrimony;
an administrator of internal public credit;
a permanent strategic infrastructure;
a protected and non-reproducible institution of the State.
The Bank shall not be converted into private property, distributed among shareholders, transferred to its officers, dissolved by administrative decision, or subjected to private beneficial ownership.
Article 4 — Meaning of Non-Commercial Status
The classification of XaraBank as a non-commercial institution signifies that it is not constituted for the private distribution of profits and does not possess shareholders or private owners.
This classification shall not prohibit XaraBank from:
concluding financial contracts;
maintaining paid services;
receiving administrative charges;
extending internal credit;
purchasing goods and services;
investing designated reserves;
administering public financial instruments;
earning institutional revenue;
recovering operational expenses;
maintaining liquidity, contingency, and development reserves.
All revenue, assets, and surpluses of XaraBank shall remain institutionally assigned to the public, monetary, social, territorial, educational, religious, humanitarian, and developmental purposes of Xaragua.
Article 5 — Constitutional Autonomy
Within the constitutional jurisdiction of Xaragua, XaraBank shall not require incorporation, concession, authorization, delegation, or licensing from any authority external to Xaragua in order to possess institutional existence or exercise the competencies granted by this Charter.
Where the Bank uses an external account, payment network, investment platform, financial intermediary, technological provider, or contractual service, the conditions governing that specific service shall not replace the constitutional law governing the existence, internal mandate, ownership, or public attribution of XaraBank.
Article 6 — Institutional Permanence
The constitutional existence of XaraBank shall survive:
replacement of its Governor;
reorganization of its directorates;
closure or migration of an operational account;
termination of an external service agreement;
replacement of a payment processor;
suspension of a technological platform;
modification of the Viaud’or issuance mechanism;
relocation of administrative operations;
incapacity or replacement of any individual officer;
interruption of a particular financial program.
No external account, wallet, card, platform, company, intermediary, or technological interface constitutes XaraBank itself.
TITLE II — SUPREME AUTHORITY AND GOVERNANCE
Article 7 — Supreme Constitutional Authority
Supreme authority over XaraBank is vested in the Rector-President of Xaragua.
The Rector-President shall exercise the following non-delegable competencies:
promulgation of monetary legislation;
confirmation or modification of the Bank’s constitutional mandate;
appointment and removal of the Governor of the Bank;
ratification of national reserve policy;
authorization of Viaud’or issuance;
approval of sovereign financial instruments;
authorization of material institutional borrowing;
ratification of international financial agreements;
determination of the Bank’s official identity and symbols;
authorization of the licensing or reproduction of protected components;
declaration of a financial emergency;
final constitutional interpretation of the present Charter.
Administrative execution may be delegated without transferring the supreme constitutional competence of the Rector-President.
Article 8 — Governor of XaraBank
The Bank shall be directed by a Governor appointed by authenticated decree of the Rector-President.
The Governor shall:
execute monetary directives;
supervise the Central Reserve Treasury;
implement Viaud’or issuance decisions;
administer the Bank’s directorates;
enforce internal accounting standards;
approve ordinary operational transactions within delegated limits;
maintain institutional continuity;
present periodic financial reports;
supervise security and access controls;
represent the Bank within the limits of the appointment decree.
The Governor shall possess no personal proprietary interest in the Bank or its assets.
Article 9 — Governing Organs
XaraBank shall comprise:
the Office of the Governor;
the Central Reserve Treasury;
the Monetary Issuance Directorate;
the Viaud’or Registry;
the Public Credit Directorate;
the National Payments and Settlement Directorate;
the Sovereign Investment Directorate;
the Development Finance Directorate;
the Ecclesiastical and Restricted Funds Directorate;
the Digital Financial Infrastructure Directorate;
the Financial Integrity and Internal Audit Directorate;
the Office of Institutional Authentication;
the Juridical Affairs and Contractual Enforcement Directorate;
any additional organ established by decree.
Article 10 — Separation of Functions
The functions of authorization, execution, custody, accounting, reconciliation, audit, and adjudication shall remain institutionally separated.
No officer shall simultaneously possess exclusive authority to:
authorize a material transaction;
execute the transaction;
alter the corresponding accounting record;
conduct the final audit of that transaction.
Material operations shall be subject to dual authorization and permanent documentary traceability.
TITLE III — THE VIAUD’OR MONETARY SYSTEM
Article 11 — National Monetary Unit
The official monetary unit and sovereign unit of account of Xaragua is the Viaud’or, abbreviated VDO.
The Viaud’or may exist in:
physical form;
documentary form;
accounting form;
digital form;
cryptographically represented form;
any additional monetary form authorized by decree.
Article 12 — Exclusive Issuing Authority
XaraBank possesses exclusive internal authority to:
issue Viaud’or;
establish its denominations;
determine the authorized volume of issuance;
maintain its central ledger;
regulate its circulation;
prescribe conversion mechanisms;
determine redemption conditions;
suspend or cancel an issuance series;
authenticate official instruments;
protect the monetary system against counterfeit issuance.
No ministry, public body, religious institution, citizen, contractor, campus, association, or private enterprise may independently issue Viaud’or.
Article 13 — Monetary Functions
Within Xaragua, the Viaud’or may serve as:
the official State unit of account;
the denominational unit of the National Treasury;
an internal settlement instrument;
a standard for public appropriations;
a unit for salaries, stipends, grants, and institutional allocations;
a unit for development obligations;
a contractual unit where accepted by the parties;
a restricted digital monetary instrument;
a reserve or contribution certificate where expressly authorized;
a representation of the monetary authority of Xaragua.
Article 14 — Monetary Basis
The Viaud’or shall be supported by a documented monetary and patrimonial framework comprising, where formally designated:
allocated monetary reserves;
precious metals physically or contractually held;
verified receivables;
liquid financial assets;
designated State revenue;
documented institutional property;
income-producing public assets;
restricted development funds;
other measurable assets admitted by monetary decree.
Ancestral lands, territorial patrimony, mineral potential, historical assets, and natural resources may be recorded in the National Patrimonial Ledger.
Such patrimonial assets shall be classified separately from immediately liquid monetary reserves unless their title, availability, valuation, and enforceable allocation have been formally documented.
Article 15 — Issuance Protocol
Every Viaud’or issuance shall require:
an authenticated monetary decree;
an issuance ceiling;
a series designation;
a date of issuance;
an identified monetary basis;
a circulation or distribution classification;
an entry in the Viaud’or Registry;
rules governing transfer;
rules governing redemption, cancellation, or retirement;
verification by the Financial Integrity Directorate.
Any Viaud’or instrument issued outside this procedure shall be null ab initio within Xaragua.
Article 16 — Determination of Value
The internal accounting, conversion, and settlement value of the Viaud’or shall be determined by XaraBank according to the monetary regulations of Xaragua.
The Bank may consider:
allocated reserves;
circulating supply;
treasury liquidity;
institutional revenue;
redemption obligations;
authorized conversion rates;
monetary stability requirements;
the measurable value of designated assets.
No officer may publish or guarantee an external exchange value that is unsupported by an enforceable conversion or redemption mechanism.
Article 17 — External Currencies
XaraBank may receive, hold, convert, account for, and disburse external currencies when required for:
cross-border transactions;
contractual settlement;
acquisition of goods or services;
reserve diversification;
payment of external obligations;
institutional transfers;
receipt of donations or contributions;
execution of development programs.
The acceptance of external currency shall not displace the Viaud’or as the official unit of account of Xaragua.
Article 18 — Prohibition of Speculative Issuance
XaraBank shall not issue Viaud’or solely for undisclosed speculative manipulation, fictitious capitalization, concealment of liabilities, or unsupported representation of reserve value.
Any investment, exchange, or digital implementation involving the Viaud’or shall remain subordinate to:
monetary authorization;
reserve discipline;
ledger integrity;
institutional purpose;
transaction traceability;
public financial accountability.
TITLE IV — NATIONAL FINANCIAL MANDATE
Article 19 — Institutional Purposes
XaraBank shall:
constitute the central financial foundation of Xaragua;
maintain the National Treasury;
issue and regulate the Viaud’or;
administer internal public credit;
establish cooperative and development financing;
maintain scholarship and educational funds;
administer grants and institutional appropriations;
administer territorial development funds;
maintain retirement, assurance, and mutual-benefit structures established by law;
administer public salaries, stipends, and allowances;
finance authorized religious, humanitarian, cultural, and educational programs;
provide secure payment and settlement infrastructure;
preserve the financial continuity of State institutions;
conclude authorized financial and technological agreements;
protect the economic and patrimonial interests of Xaragua.
Article 20 — Indigenous Credit
The Bank may establish internal credit facilities based upon:
verified repayment capacity;
institutional guarantees;
secured contributions;
designated revenue;
cooperative liability;
documented property interests;
development appropriations;
other security authorized by law.
Every credit instrument shall identify:
the lender;
the borrower;
the principal;
the currency;
the institutional purpose;
the maturity;
the repayment mechanism;
the applicable charges;
the governing law;
the dispute-resolution mechanism.
Article 21 — Interest and Administrative Charges
XaraBank may establish non-interest credit structures, contribution-based financing, cost-recovery charges, shared-risk mechanisms, deferred-payment arrangements, and other financing models consistent with its constitutional and ecclesiastical policies.
Where interest, indexed return, investment yield, or an equivalent financial charge is employed, it shall require express regulatory authorization and transparent contractual disclosure.
No financial return shall be concealed through artificial fees or fictitious monetary conversions.
Article 22 — Grants, Scholarships, and Public Allocations
The Bank may administer:
educational scholarships;
research grants;
territorial-development allocations;
humanitarian funds;
ecclesiastical mission funds;
cultural-preservation grants;
infrastructure funds;
citizen assistance programs;
institutional compensation programs;
other appropriations authorized by the State.
Every allocation shall possess an identified legal basis, beneficiary, amount, purpose, budgetary source, authorizing authority, and documentary record.
Article 23 — Land-Related Financial Instruments
XaraBank may administer land-related obligations, development certificates, territorial-use instruments, infrastructure bonds, and patrimonial participation mechanisms authorized by Xaraguayan law.
No instrument shall transfer ancestral land, extinguish collective title, or create an external proprietary claim unless such consequence is expressly authorized by a constitutional instrument.
TITLE V — FINANCIAL AUTONOMY AND OPERATIONAL DISTINCTION
Article 24 — Internal Financial Autonomy
Within Xaragua, banking, monetary issuance, public credit, treasury administration, institutional payments, and public financial classification fall under the exclusive authority of the constitutional institutions of Xaragua.
No external administrative act shall possess direct executory force within Xaragua unless:
recognized by constitutional law;
incorporated through legislation;
accepted by treaty or agreement;
adopted through a valid jurisdictional-selection clause;
recognized by a competent Xaraguayan tribunal.
Article 25 — External Financial Infrastructure
XaraBank may use foreign or third-party:
bank accounts;
payment processors;
debit or credit facilities;
investment platforms;
custodial services;
digital wallets;
settlement networks;
data-hosting services;
financial software;
contractual intermediaries.
The provider’s contractual rules shall govern access to the specific service. Xaraguayan law shall govern the internal authorization, public attribution, accounting classification, beneficial institutional purpose, and official use of the resulting financial instrument.
Article 26 — International Financial Standards
Basel standards, international tax-reporting systems, monetary surveillance frameworks, securities standards, and other external financial regimes shall not possess constitutional supremacy within Xaragua solely by reason of their international or technical origin.
Where such a framework governs an external provider, account, transaction, counterparty, or contractual relationship used by XaraBank, the competent organs of Xaragua shall determine the operational measures required to preserve access, contractual performance, financial continuity, and institutional interests.
Technical conformity for a particular external operation shall not constitute a transfer of constitutional financial authority.
Article 27 — Institutional Representation
No officer shall represent that XaraBank:
possesses an external banking license that has not been issued;
is recognized by an external regulator absent authenticated evidence;
is a member of a financial network absent an executed agreement;
holds reserves not entered in the official ledger;
issues a third-party payment card where the actual issuer is another institution;
possesses an externally enforceable immunity that has not been recognized by the competent forum.
All public and contractual representations shall distinguish the Bank’s constitutional status within Xaragua from the contractual or regulatory status of its external operational instruments.
TITLE VI — INSАISISSABILITY, INALIENABILITY, AND PROTECTION OF PUBLIC ASSETS
Article 28 — Constitutional Insaisissability
The assets of XaraBank permanently allocated to monetary issuance, official reserves, treasury operations, public payments, ecclesiastical patrimony, restricted development funds, humanitarian programs, pensions, education, and essential institutional continuity are declared:
inalienable;
imprescriptible;
non-transferable except by authorized public act;
immune from ordinary internal attachment;
immune from administrative appropriation;
protected against unauthorized execution;
unavailable for personal obligations of any officer;
excluded from private succession;
protected against unauthorized pledge or encumbrance;
permanently assigned to their statutory public purposes.
Article 29 — Internal Execution
No judgment, administrative order, private contract, ministerial decision, creditor demand, or enforcement measure may seize, freeze, garnish, transfer, or alienate a protected asset of XaraBank within Xaragua unless:
the obligation was validly incurred by the Bank;
the competent tribunal possesses jurisdiction;
the affected asset is not constitutionally restricted;
all alternative forms of execution have been examined;
the execution is specifically authorized under Xaraguayan law;
the constitutional continuity of the Bank is preserved.
The personal obligations of an officer, employee, citizen, contractor, or beneficiary shall never be executed against the assets of XaraBank.
Article 30 — External Assertion of Immunity
In every external jurisdiction, XaraBank and the State shall assert all available:
State-property immunities;
central-bank and monetary-authority protections;
indigenous-rights protections;
ecclesiastical-property protections;
charitable and trust-property exemptions;
contractual limitations on execution;
beneficial-ownership defenses;
sovereign-purpose classifications;
public-policy protections;
procedural objections;
proprietary remedies;
protections against disproportionate or unlawful seizure.
No waiver of immunity or protection shall be inferred solely from:
maintenance of an external account;
use of a payment intermediary;
conclusion of a financial contract;
participation in arbitration;
acquisition of goods or services;
receipt of external currency;
appointment of a service provider.
Any waiver shall be express, specific, authenticated, and limited to the particular transaction and property identified in the waiver.
Article 31 — Commercially Used Assets
Assets used in commercial, investment, payment-processing, or contractual operations shall be separately classified from:
core monetary reserves;
restricted ecclesiastical patrimony;
humanitarian funds;
pension reserves;
assets held for third-party beneficiaries;
essential treasury infrastructure.
XaraBank shall not represent operational or commercially deployed assets as possessing an externally guaranteed immunity absent a recognized legal basis.
Article 32 — Protection Against Freezing and Attachment
All contracts concluded by XaraBank shall, where practicable, include provisions governing:
ownership of deposited funds;
restrictions on set-off;
notice before suspension;
dispute-resolution procedures;
protection of restricted-purpose assets;
identification of fiduciary or public funds;
segregation of protected reserves;
limitation of enforcement to designated assets;
continuity of essential payment functions;
return or transfer of assets upon termination.
TITLE VII — ECCLESIASTICAL AND INDIGENOUS PATRIMONY
Article 33 — Ecclesiastical Financial Assignment
XaraBank may administer assets designated for:
divine worship;
Catholic education;
religious formation;
charitable activity;
ecclesiastical missions;
maintenance of sacred sites;
assistance to ministers and religious personnel;
humanitarian relief;
preservation of Catholic and indigenous patrimony;
lawful purposes of the Catholic Order of Xaragua.
Such assets shall be recorded separately from unrestricted State funds.
Article 34 — Competent Authority
Ecclesiastically assigned assets shall be administered in coordination with the competent organs of the Catholic Order of Xaragua, subject to:
the Constitution of Xaragua;
the constitutive statutes of the Order;
applicable canonical norms;
donor restrictions;
fiduciary obligations;
internal audit;
documentary traceability;
the supreme patrimonial authority established by Xaraguayan law.
Article 35 — Institutional Distinction
The Catholic Order of Xaragua may administer its designated patrimony through XaraBank but shall not independently:
issue Viaud’or;
alter monetary policy;
exercise control over unrestricted Treasury assets;
bind XaraBank without authorization;
represent itself as the central monetary authority;
pledge public assets for exclusively private or ecclesiastical obligations.
State monetary competence and ecclesiastical patrimonial administration shall remain coordinated but juridically distinct.
TITLE VIII — FINANCIAL INTEGRITY, AUDIT, AND DOCUMENTARY CONTROL
Article 36 — Separation of Assets
XaraBank shall separately account for:
National Treasury assets;
monetary reserves;
operating funds;
investment assets;
restricted development funds;
ecclesiastical patrimony;
charitable funds;
university funds;
pensions and assurance reserves;
fiduciary assets;
funds beneficially owned by third parties;
personal property of officers.
Public, ecclesiastical, charitable, fiduciary, and personal assets shall not be commingled.
Article 37 — Financial Records
Every material operation shall identify:
the date;
the amount;
the currency or unit of account;
the originating account;
the beneficiary;
the institutional purpose;
the authorizing officer;
the executing officer or provider;
the accounting classification;
the supporting documentation;
the applicable contract or decree;
the archival reference.
Article 38 — Internal Audit
The Financial Integrity and Internal Audit Directorate shall possess authority to:
examine accounts;
reconcile ledgers;
verify reserves;
review monetary issuance;
inspect credit operations;
verify institutional ownership;
investigate unauthorized transactions;
examine conflicts of interest;
suspend compromised access;
submit findings directly to the Rector-President.
No operational officer may prevent, alter, or suppress an authorized audit.
Article 39 — Prohibited Financial Conduct
The following acts are prohibited:
diversion of public funds;
falsification of reserves;
unauthorized Viaud’or issuance;
fabrication of financial certificates;
creation of undisclosed liabilities;
commingling of public and personal assets;
impersonation of Bank officers;
unauthorized solicitation of funds;
concealment of beneficial ownership from XaraBank;
destruction or alteration of financial records;
use of ecclesiastical status for personal enrichment;
presentation of a third-party product as issued by XaraBank;
unauthorized pledge of public assets;
misrepresentation of external recognition or immunity.
TITLE IX — JURIDICAL SOVEREIGNTY AND CONTROLLED RECEPTION OF LAW
Article 40 — Completeness of the Xaraguayan Legal Order
Xaragua affirms that its institutions are constituted within an autonomous legal order possessing its own:
constitutional hierarchy;
legislative authority;
customary law;
financial regulations;
judicial institutions;
administrative procedures;
contractual rules;
ecclesiastical patrimonial framework;
evidentiary standards;
enforcement mechanisms.
External law shall not become internally operative solely by unilateral assertion of an external party.
Article 41 — Controlled Reception
Xaragua may receive, incorporate, reference, or apply external legal norms through:
constitutional incorporation;
legislation;
treaty or institutional agreement;
contractual choice of law;
arbitration agreement;
judicial recognition;
administrative regulation;
technical adoption by the competent authority.
Once validly incorporated or contractually selected, an external rule shall be applied according to the scope, purpose, hierarchy, and limitations established by the receiving instrument.
Article 42 — Jurisdictional Selection
The competent Xaraguayan authority may determine, before the conclusion of a transaction, the law and forum appropriate to:
the nature of the parties;
the location of the assets;
the place of contractual performance;
the enforceability of obligations;
the protection of restricted public assets;
the availability of arbitration;
the recognition of judgments;
the technical requirements of an external provider;
the protection of indigenous and ecclesiastical interests;
the continuity of the State’s financial operations.
This competence shall be designated as the Sovereign Jurisdictional Selection Authority.
Article 43 — Limitations on Jurisdictional Selection
Jurisdictional selection shall operate prospectively through legislation, treaty, contract, arbitration agreement, or authenticated institutional act.
It shall not be used to:
retroactively erase a validly incurred obligation;
alter the governing law after a dispute has arisen without the consent of the parties;
invalidate an external judgment solely by administrative declaration where assets are situated outside Xaragua;
impose Xaraguayan jurisdiction upon a non-consenting external party lacking a recognized jurisdictional connection;
contradict a binding jurisdictional clause already accepted by XaraBank;
conceal or mischaracterize the legal nature of a transaction.
Article 44 — Applicable Internal Sources
The competent authority may apply:
the Constitution of Xaragua;
sovereign and rectoral decrees;
the Financial Code;
the present Charter;
the customary law of the Xaraguayan Indigenous People;
the jurisprudence of Xaraguayan courts;
the statutes of XaraBank;
applicable ecclesiastical patrimonial law;
general principles recognized within Xaragua.
Article 45 — Canonical and Ecclesiastical Sources
Canonical norms may be applied to:
ecclesiastical juridical personality;
religious associations;
temporal goods;
pious foundations;
restricted donations;
ecclesiastical administration;
internal religious offices;
Catholic institutional discipline;
arbitration expressly accepted by the parties;
patrimonial matters assigned to the Catholic Order of Xaragua.
Canonical law shall not independently govern an external financial provider or non-consenting counterparty.
Article 46 — Comparative and External Sources
The State may incorporate or contractually select relevant provisions from:
Haitian civil, commercial, financial, fiscal, customs, and procedural law;
the UNIDROIT Principles of International Commercial Contracts;
applicable UNCITRAL model laws;
applicable Hague conventions;
international arbitration rules;
recognized trade usages;
comparative banking and fiduciary standards;
inter-American jurisprudence concerning indigenous property and institutional rights;
other systems identified in an authenticated instrument.
Reference to such sources shall not establish their general constitutional supremacy within Xaragua.
TITLE X — CONTRACTUAL AND ECONOMIC JURISDICTION
Article 47 — Mandatory Jurisdictional Clauses
Every material contract concluded by XaraBank shall identify:
the parties;
their legal capacity;
the governing law;
the competent court or arbitral forum;
the place of performance;
the currency of payment;
the method of service;
the language of authoritative interpretation;
the treatment of public and restricted assets;
the recognition and enforcement procedure;
the scope of any waiver;
the termination mechanism.
Article 48 — Cross-Border Financial Contracts
For a cross-border transaction, XaraBank may select:
Xaraguayan law;
the law of the counterparty’s jurisdiction;
the law of the place of performance;
neutral commercial law;
the UNIDROIT Principles;
institutional arbitration rules;
a combined contractual framework expressly identified by the parties.
Any combination of legal systems shall specify the subject matter governed by each system and the rule applicable in the event of conflict.
Article 49 — Arbitration
XaraBank may submit a dispute to arbitration through an express written agreement identifying:
the arbitral institution or procedure;
the seat of arbitration;
the governing law;
the number and appointment of arbitrators;
the language;
interim-measure authority;
confidentiality requirements;
the treatment of restricted State assets;
recognition and enforcement procedures;
the exact scope of any immunity waiver.
Participation in arbitration shall not constitute a general waiver of protection over property unrelated to the dispute.
Article 50 — Certificate of Jurisdictional Activation
The Ministry of Justice may issue a Certificate of Jurisdictional Activation before the conclusion or implementation of a material transaction.
The Certificate shall state:
the transaction concerned;
the parties;
the legal systems selected;
the contractual or statutory basis of selection;
the competent forum;
the applicable enforcement mechanism;
the assets affected;
any reserved constitutional matter;
any authorized waiver;
the duration of the Certificate.
The Certificate shall have internal administrative force but shall not alter the rights of a non-consenting external party.
Article 51 — Continuing Contractual Effect
Once XaraBank has validly accepted a governing law, arbitral forum, choice-of-court clause, payment obligation, provider agreement, or enforcement mechanism, the Bank shall perform that undertaking according to its terms unless:
the agreement is amended by the parties;
the competent forum declares it invalid;
performance becomes impossible under the governing law;
termination is authorized by the agreement;
a constitutional emergency measure applies within Xaragua without purporting to extinguish external rights beyond its jurisdiction.
TITLE XI — SCOPE OF THE ECONOMIC JURISDICTIONAL REGIME
Article 52 — Covered Matters
The jurisdictional-selection regime applies to:
contracts involving XaraBank;
Viaud’or instruments;
sovereign and institutional credit;
public investment;
development bonds;
territorial financing;
procurement;
customs and trade administration within Xaragua;
cross-border payments;
external custodial arrangements;
ecclesiastical financial agreements;
institutional partnerships;
intellectual-property licensing;
digital financial services;
disputes involving the ownership or attribution of Xaraguayan public assets.
Article 53 — Customs and Trade
Xaragua may establish internal rules governing:
admission of goods into its institutional territories and facilities;
authorized trade corridors;
institutional importation;
public procurement;
territorial-use charges;
documentary requirements;
prohibited or restricted goods;
indigenous commercial preferences;
customs exemptions established by Xaraguayan law;
institutional inspection and recordkeeping.
Where goods pass through or remain within an external customs jurisdiction, the applicable external procedures shall be addressed through contract, authorization, accommodation, or other recognized legal mechanism.
Article 54 — Taxation and Fiscal Classification
Xaragua possesses authority to define the internal fiscal classification of its institutions, citizens, transactions, public funds, and ecclesiastical patrimony.
External tax treatment shall be determined by the law applicable to the person, account, income, asset, transaction, or provider concerned, subject to any exemption, indigenous protection, treaty rule, charitable status, ecclesiastical classification, or other defense available under that law.
XaraBank shall assert all lawful protections against duplicative, discriminatory, extraterritorial, or improperly attributed taxation.
Article 55 — Financial Reporting
XaraBank shall maintain complete internal financial records regardless of whether an external reporting regime applies.
Where an external account or provider is subject to a reporting requirement, the Bank shall determine the institutional response necessary to:
preserve lawful access;
protect confidential information;
distinguish public from personal assets;
identify restricted funds;
prevent misclassification;
assert available indigenous, public, charitable, fiduciary, or ecclesiastical protections.
No operational disclosure shall transfer constitutional authority over XaraBank.
TITLE XII — INTERNATIONAL AND INTERINSTITUTIONAL POSITION
Article 56 — External Relations
XaraBank may enter into dialogue, cooperation, negotiation, and contractual relations with:
indigenous governments;
indigenous financial institutions;
religious authorities;
ecclesiastical bodies;
universities;
charitable institutions;
development organizations;
private lenders;
commercial banks;
financial technology providers;
ethically aligned public or private partners;
international and regional forums.
Article 57 — Nature of External Recognition
The constitutional existence of XaraBank within Xaragua is established by Xaraguayan law.
Recognition, licensing, registration, accommodation, contractual acceptance, immunity, tax classification, or financial status in another jurisdiction shall possess only the effect expressly attributed by the competent external authority or agreement.
Proof of delivery, correspondence, participation in dialogue, or receipt of a notification shall not be classified as substantive recognition without an express statement to that effect.
Article 58 — Indigenous Institutional Protection
XaraBank may invoke indigenous-rights instruments in support of:
the maintenance of distinct economic institutions;
participation in economic development;
protection of ancestral territory and resources;
prevention of cultural or institutional appropriation;
access to fair and effective procedures;
protection against discriminatory exclusion;
restitution or compensation for proven misappropriation;
preservation of collective financial knowledge and institutional identity.
Article 59 — Formal Institutional Response
Where XaraBank is subjected to unlawful interference, impersonation, discriminatory exclusion, misappropriation, or unauthorized appropriation, the State may:
issue a formal protest;
deliver a juridical counter-notification;
preserve evidence;
initiate internal proceedings;
invoke contractual remedies;
address the competent external regulator or provider;
seek interim or injunctive relief;
submit the matter to an agreed arbitral forum;
petition an indigenous-rights mechanism;
publish an authenticated institutional declaration.
A lawful audit, contractual verification, judicial process, or provider review shall be assessed according to its jurisdictional basis and shall not automatically be classified as hostile interference.
TITLE XIII — PROTECTION OF INSTITUTIONAL IDENTITY
Article 60 — Exclusive Ownership
Xaragua possesses exclusive institutional ownership over:
the name Indigenous Bank of Xaragua;
the designation XaraBank;
the name Viaud’or and abbreviation VDO;
official monetary symbols;
seals and certificates;
constitutional and regulatory documents;
digital interfaces;
databases and registries;
proprietary financial software;
authentication mechanisms;
distinctive financial instruments;
the consolidated institutional architecture established by this Charter.
Article 61 — Prohibited Reproduction
Without written authorization from the Rector-President, no person or institution may:
impersonate XaraBank;
establish an unauthorized branch;
create a false banking portal;
issue Viaud’or;
reproduce official certificates;
solicit funds in the Bank’s name;
claim a nonexistent institutional mandate;
reproduce proprietary software or databases;
represent an external product as issued by XaraBank;
create a confusingly similar institution implying affiliation with Xaragua.
Article 62 — Remedies
XaraBank may respond through:
cancellation of internal recognition;
revocation of credentials;
cease-and-desist orders;
public authentication notices;
notification to service providers;
preservation of digital evidence;
contractual claims;
intellectual-property proceedings;
requests for suspension of fraudulent interfaces;
restitution and compensation claims before a competent forum.
TITLE XIV — FINAL CONSTITUTIONAL PROVISIONS
Article 63 — Supremacy
The present Charter possesses supreme authority over all ordinary regulations, administrative policies, operational manuals, ministerial instructions, and institutional practices governing XaraBank.
Any incompatible subordinate act shall be inapplicable to the extent of the incompatibility.
Article 64 — Consolidation
The present Charter consolidates:
the Constitution of the Indigenous Bank of Xaragua dated April 12, 2025;
the Policy on Jurisdictional Selection and Sovereign Right of Triage dated May 19, 2025;
Annex I concerning economic, commercial, and financial jurisdictional selection;
all compatible prior instruments concerning the Viaud’or, XaraBank, public financial autonomy, and jurisdictional protection.
Prior provisions shall continue only insofar as they remain compatible with the present Charter.
Article 65 — Interpretation of Jurisdictional Authority
The term Sovereign Right of Jurisdictional Triage shall mean the constitutional authority of Xaragua to determine prospectively, within its competence, the legal framework under which it legislates, contracts, arbitrates, recognizes external instruments, and administers its institutions.
It shall not be interpreted as authorizing unilateral alteration of a valid external contract or as automatically depriving a competent external forum of jurisdiction over assets, persons, accounts, providers, or transactions legally situated within that forum.
Article 66 — Non-Waiver
No cooperation, contractual performance, use of an external currency, participation in arbitration, financial disclosure, maintenance of an external account, or technical conformity shall be interpreted as a general abandonment of:
Xaragua’s constitutional order;
XaraBank’s institutional identity;
the internal status of the Viaud’or;
indigenous institutional rights;
ecclesiastical patrimonial protections;
any legally available immunity or defense.
Article 67 — Severability
If a provision is held inapplicable in a particular external jurisdiction or contractual context, the remaining provisions shall retain full force within Xaragua.
The inapplicability of a specific claim of immunity, jurisdiction, exemption, or enforcement shall not extinguish XaraBank, the Viaud’or, the National Treasury, or the constitutional financial authority of Xaragua.
Article 68 — Irrevocable National Assignment
XaraBank is permanently assigned to the monetary, treasury, economic, indigenous, ecclesiastical, educational, humanitarian, and developmental functions of Xaragua.
The institution shall not be abolished, privatized, alienated, inherited, partitioned, or transferred through an ordinary administrative act.
Any fundamental reorganization requires a supreme constitutional instrument promulgated by the Rector-President.
Article 69 — Entry into Force
The present Charter enters into force immediately upon promulgation.
All ministries, courts, public institutions, financial organs, ecclesiastical bodies, officers, contractors, and affiliated structures of Xaragua shall conform their mandates, contracts, account classifications, monetary instruments, digital systems, and institutional representations to its provisions.
SUPREME FINAL PROCLAMATION
The Indigenous Bank of Xaragua is definitively constituted as:
the central financial institution of Xaragua;
the exclusive issuing authority of the Viaud’or;
the custodian of the Central Reserve Treasury;
the administrator of public credit and national financial instruments;
the financial infrastructure of the constitutional institutions of Xaragua;
the custodian of designated indigenous, ecclesiastical, educational, humanitarian, and territorial-development funds;
an inalienable and internally insaisissable public institution;
a juridical person distinct from every individual officer;
a permanent and non-reproducible strategic structure;
an institution empowered to assert every available contractual, proprietary, indigenous, ecclesiastical, central-monetary, and public-law protection before competent forums.
The Viaud’or is confirmed as the official monetary unit and sovereign unit of account of Xaragua. Its issuance, registration, conversion, circulation, redemption, suspension, and cancellation fall under the exclusive constitutional authority of XaraBank.
All protected monetary reserves, treasury assets, restricted public funds, ecclesiastical patrimony, humanitarian allocations, pensions, and institutional continuity assets are declared inalienable and insaisissable within the constitutional jurisdiction of Xaragua, except through a procedure expressly authorized by the present Charter.
The State shall determine prospectively the governing law, forum, arbitration mechanism, contractual framework, and enforcement architecture applicable to its economic relations. Once validly accepted, such jurisdictional arrangements shall be executed according to their terms, subject to the expressly reserved constitutional protections of Xaragua.
XaraBank shall remain institutionally autonomous, financially accountable, technically administered, digitally authenticated, constitutionally protected, and permanently assigned to the economic continuity of the Xaraguayan Indigenous People and the Sovereign Catholic Indigenous and Private State of Xaragua.
RATIFIED, PROMULGATED, AND SEALED BY
PASCAL DESPUZEAU DAUMEC VIAU
PRELATE-FOUNDER AND RECTOR-PRESIDENT
Original Ratification: April 12, 2025

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA

INDIGENOUS BANK OF XARAGUA — XARABANK

CENTRAL RESERVE, TREASURY AND PUBLIC-CREDIT AUTHORITY

CONSTITUTIONAL REGULATION ON THREE-YEAR CUSTOMARY DEVELOPMENT OBLIGATIONS

ESTABLISHING THE ISSUANCE, CAPITALIZATION, SECURITY, REGISTRATION, SUBSCRIPTION, SERVICING, MATURITY, RESTRUCTURING AND ENFORCEMENT REGIME APPLICABLE TO FIVE-PERCENT VIAUD’OR-DENOMINATED OBLIGATIONS

Issuing Institution: Indigenous Bank of Xaragua — XaraBank

Competent Constitutional Authority: Office of the Rector-President

Administrative Authority: Governor of XaraBank

Registry Authority: Directorate of Public Credit

Official Instrument: Xaragua Three-Year Customary Development Obligation

Official Abbreviation: XCDO-3

Official Classification: Restricted Customary Financial Instrument — Three-Year Fixed-Return Obligation — Viaud’or-Denominated Development Security — Internal Public-Credit Instrument — Non-Public and Non-Negotiable Issuance

Contractual Term: Three years

Annual Contractual Return: Five percent

Capitalization: Annual compound capitalization

Internal Governing Order: Constitution, Financial Code, customary financial law, monetary regulations and authenticated public-credit instruments of Xaragua

PREAMBLE

The Indigenous Bank of Xaragua, exercising the central monetary, treasury, reserve-management, institutional-financing and public-credit functions vested in it by the constitutional order of the Sovereign Catholic Indigenous and Private State of Xaragua, hereby establishes a restricted category of three-year Viaud’or-denominated debt instruments designated as Xaragua Customary Development Obligations.

The Obligations shall constitute regulated instruments for the mobilization and controlled allocation of capital to productive, agricultural, territorial, educational, administrative, infrastructural, ecclesiastical, technological, patrimonial and strategic-development programs approved by the competent constitutional authority.

Each authenticated Obligation shall constitute a fixed-term financial liability of XaraBank, recorded in the Xaragua Public Credit Registry and governed exclusively by the present Regulation, the applicable Issuance Decree, the Security Schedule, the Use-of-Proceeds Schedule and the individual Subscription Instrument.

The fixed contractual return is established at five percent per completed annual capitalization period. This rate is adopted as a controlled and fiscally supportable public-credit charge compatible with the preservation of institutional liquidity, the progressive constitution of repayment reserves and the productive deployment of subscribed capital.

The five-percent contractual rate shall constitute compensation for the fixed-term immobilization and authorized institutional use of subscribed capital. It shall not constitute a declaration of guaranteed commercial profitability, an assurance against loss or delay, a representation of external deposit insurance, or an assertion of equivalence with securities issued or guaranteed by externally recognized public authorities.

No Obligation shall be classified, certified, advertised or registered as secured, guaranteed, reserve-backed, revenue-backed or property-interest-backed unless the relevant asset, reserve, receivable, revenue stream or legally assignable economic interest has been specifically identified, valued, allocated, registered and subjected to an enforceable Security Schedule.

TITLE I — CONSTITUTION, DESIGNATION AND JURIDICAL NATURE

Article 1 — Establishment and Official Designation

There is hereby established within the public-credit architecture of XaraBank a restricted financial instrument officially designated as:

XARAGUA THREE-YEAR CUSTOMARY DEVELOPMENT OBLIGATION

The mandatory abbreviation shall be:

XCDO-3

Every issuance shall bear:

an issuance-series number;

the corresponding fiscal year;

an individual certificate number;

an effective subscription date;

a contractual maturity date;

a Public Credit Registry reference;

a security classification;

an internal risk classification;

the applicable Issuance Decree reference;

the authentication and verification identifiers prescribed by XaraBank.

Article 2 — Juridical Character

An XCDO-3 constitutes a fixed-term, registered, non-negotiable contractual debt obligation issued by XaraBank and entered as an institutional liability in the Xaragua Public Credit Registry.

The Obligation incorporates:

the registered principal received or lawfully recognized by XaraBank;

the accounting denomination of that principal in Viaud’or;

the fixed annual contractual return;

the method of annual capitalization;

the final maturity obligation;

the security specifically allocated to the relevant series;

the repayment source identified by the Issuance Decree;

the holder’s rights established by the authenticated Subscription Instrument.

The Obligation shall not constitute:

an ownership interest in XaraBank;

citizenship or public status in Xaragua;

territorial or ancestral title;

direct ownership of land or public property;

a demand deposit;

an insured savings account;

a transferable monetary balance;

an equity participation;

a right of institutional governance;

an unrestricted claim against the entire patrimony of Xaragua;

a general guarantee issued by every Xaraguayan institution;

an externally recognized sovereign bond absent the express recognition required in the relevant external jurisdiction.

Article 3 — Restricted Institutional Issuance

The XCDO-3 shall be constituted as a restricted, individually authorized and non-public instrument.

Subscription may be admitted only for:

verified citizens of Xaragua;

juridical persons constituted under Xaraguayan law;

constitutional or administrative institutions of Xaragua;

authorized organs of the Catholic Order of Xaragua;

approved Indigenous institutions;

ecclesiastical institutions possessing legal capacity;

strategic institutional partners individually admitted by XaraBank;

other qualified subscribers expressly authorized by authenticated decision.

Public solicitation, anonymous subscription, mass distribution, unrestricted digital placement, open-market sale and unauthorized intermediary distribution are prohibited.

Article 4 — Exclusive Institutional Purpose

Subscription proceeds may be appropriated exclusively to programs expressly identified in the applicable Issuance Decree, including:

agricultural production and food-security infrastructure;

territorial and community infrastructure;

educational and research institutions;

administrative and digital infrastructure;

Indigenous enterprise capitalization;

productive equipment and institutional property;

cultural and patrimonial preservation;

ecclesiastical, charitable and humanitarian infrastructure;

reserve constitution;

public-credit stabilization;

other development programs expressly approved by the Rector-President.

No subscribed capital may be allocated to the personal expenditure, personal indebtedness, private acquisition or unauthorized benefit of an officer, administrator, intermediary or affiliated person.

TITLE II — DENOMINATION, RETURN, CAPITALIZATION AND MATURITY

Article 5 — Monetary Denomination

Every XCDO-3 shall be denominated, registered, accounted for and contractually discharged in Viaud’or unless the relevant Subscription Instrument establishes an authorized external-currency settlement mechanism.

The minimum principal, permissible subscription increments, aggregate authorized principal and settlement unit shall be determined separately for each issuance series.

Article 6 — Registered Principal

The principal shall correspond exclusively to the amount of Viaud’or recorded simultaneously:

in the Subscription Instrument;

on the authenticated certificate;

in the Public Credit Registry;

in the segregated issuance ledger.

Where external currency is received for subscription, the institutional record shall identify:

the currency received;

the gross amount;

the applicable conversion rate;

the conversion date;

authorized conversion expenses;

the net Viaud’or principal;

the receiving account;

the institutional receipt number;

the officer responsible for registration.

Article 7 — Fixed Contractual Return

Every XCDO-3 shall accrue a fixed contractual return of five percent for each completed annual capitalization period during the three-year contractual term.

The maturity value shall be determined according to the following formula:

Where:

No return shall accrue for an incomplete annual period except where expressly authorized by the Issuance Decree or an authenticated early-redemption schedule.

Article 8 — Official Illustrative Calculation

For a registered principal of 1,000 Viaud’or, annual capitalization shall be calculated as follows:

Period

Opening balance

Annual return

Closing balance

Initial subscription

—

—

1,000.00 VDO

End of Year 1

1,000.00 VDO

50.00 VDO

1,050.00 VDO

End of Year 2

1,050.00 VDO

52.50 VDO

1,102.50 VDO

End of Year 3

1,102.50 VDO

55.125 VDO

1,157.625 VDO

The contractual maturity value shall be 1,157.625 Viaud’or, subject to the applicable accounting rule governing fractional Viaud’or units. Where settlement is limited to two decimal places, the amount shall be discharged as 1,157.63 Viaud’or.

Article 9 — Capitalization Regime

At the conclusion of each completed annual period, the contractual return shall be incorporated into the registered balance.

Unless the Issuance Decree expressly establishes periodic distributions:

no annual cash distribution shall be payable;

accrued returns shall remain capitalized;

the consolidated contractual balance shall become payable at maturity;

no supplementary return shall accrue after maturity except pursuant to an express default provision;

no officer may authorize an informal distribution outside the registered servicing schedule.

Article 10 — Term and Maturity

The contractual term shall commence on the effective subscription date and terminate on the third anniversary of that date.

At maturity, XaraBank shall discharge the registered obligation through one or more of the following authorized mechanisms:

payment in Viaud’or;

authorized conversion into an external currency;

transfer to an eligible XaraBank account;

payment from the Debt-Service Reserve;

payment from designated project revenue;

replacement by a separately accepted instrument;

another settlement mechanism expressly established by the Issuance Decree.

Renewal, conversion, extension or replacement shall require the holder’s authenticated consent and shall never arise automatically from silence, inaction or administrative presumption.

Article 11 — Early Redemption

No XCDO-3 shall be redeemable before maturity except where:

the Issuance Decree establishes an early-redemption facility;

XaraBank exercises a registered call provision;

an exceptional circumstance recognized by regulation is established;

the parties execute an authenticated amendment;

acceleration results from an adjudicated event of default;

an institutional restructuring instrument authorizes settlement.

Early redemption may entail the suppression of unearned future returns, application of an administrative charge or recalculation under the schedule disclosed before subscription.

TITLE III — ISSUANCE AUTHORIZATION AND CAPITAL CONTROL

Article 12 — Mandatory Issuance Decree

No XCDO-3 series may be constituted, subscribed, registered or represented as authorized without a promulgated Issuance Decree establishing:

the aggregate authorized principal;

the subscription period;

the institutional development purpose;

the minimum subscription;

the contractual maturity structure;

the security classification;

the assigned assets or revenue;

the principal repayment source;

the annual debt-service allocation;

the responsible administrative directorate;

the transfer restrictions;

the eligibility requirements;

the internal risk classification;

the accounting and audit requirements.

Article 13 — Issuance Ceiling

The aggregate registered principal of a series shall not exceed the amount authorized by the applicable Issuance Decree.

The Directorate of Public Credit shall prevent:

duplicate certification;

over-issuance;

unregistered liability creation;

retrospective enlargement of a closed series;

unauthorized substitution of security;

undisclosed senior indebtedness;

concealment of outstanding obligations;

double allocation of the same security;

subscription after closure of the authorized period.

Article 14 — Use-of-Proceeds Schedule

Each series shall be governed by a mandatory Use-of-Proceeds Schedule specifying:

the funded program;

authorized expenditure categories;

disbursement limits;

the execution calendar;

the responsible administrator;

procurement controls;

performance milestones;

reserve allocations;

reporting intervals;

treatment of unused capital;

prohibited expenditures;

procedures applicable to material program modification.

Article 15 — Segregated Accounting

Subscription proceeds shall be maintained within a segregated issuance ledger and shall not be commingled with:

personal funds;

unrestricted ecclesiastical funds;

unrelated project revenue;

third-party fiduciary property;

another issuance series without common security;

operating funds not authorized by the Issuance Decree;

assets allocated to a legally superior payment obligation.

TITLE IV — SECURITY CLASSIFICATION AND ASSET ALLOCATION

Article 16 — Mandatory Security Classification

Every series shall be classified as one of the following:

Class A — Allocated-Reserve Secured Obligation;

Class B — Designated-Revenue Secured Obligation;

Class C — Property-Interest Secured Obligation;

Class D — Mixed-Security Obligation;

Class E — General Institutional Obligation.

No certificate, prospectus, institutional notice or subscription communication may employ the expressions secured, guaranteed, reserve-backed, revenue-backed, property-backed or land-backed without identifying the corresponding classification and Security Schedule.

Article 17 — Allocated-Reserve Security

A Class A issuance shall be supported exclusively by reserve assets that are:

owned or lawfully controlled by XaraBank;

specifically identified;

recorded in the Reserve Registry;

segregated from ordinary operating capital;

valued under an approved methodology;

assigned to the series by authenticated act;

periodically verified;

unavailable for unauthorized competing allocation.

The applicable certificate shall disclose the reserve-coverage ratio. Such disclosure shall not establish unlimited liability beyond the contractual obligation of XaraBank and the security lawfully registered for the series.

Article 18 — Designated-Revenue Security

A Class B issuance shall be supported by an identifiable revenue stream derived from a specified program, enterprise, production activity, levy, contract or institutional operation.

The Security Schedule shall identify:

the revenue source;

the legal authority controlling collection;

available historical information;

projected revenue;

the allocation percentage;

payment priority;

minimum reserve requirements;

material revenue dependencies;

shortfall procedures;

substitution conditions.

Projected revenue shall be recorded as a forecast and shall not be represented as collected, liquid or unconditionally available revenue.

Article 19 — Property-Interest Security

A Class C issuance may be classified as property-interest-backed only where the Security Schedule identifies a documented and legally assignable economic interest capable of securing the obligation.

The Schedule shall specify:

the property description;

the nature of the documented interest;

the registry or archival reference;

the valuation date;

the valuation methodology;

existing encumbrances;

the portion allocated to the series;

enforceability limitations;

constitutionally protected collective rights;

the procedure applicable upon default;

the competent adjudicative authority.

Article 20 — Constitutional Protection of Ancestral Territory

No property-interest classification shall:

transfer ancestral territory to a subscriber;

establish private sovereignty;

extinguish collective title;

authorize territorial occupation;

confer governmental authority;

permit partition of protected communal territory;

create an automatic power of alienation;

override constitutional restrictions protecting Indigenous patrimony.

Where the underlying territory cannot lawfully be alienated or executed upon, the registered security shall remain strictly limited to the assignable revenue, production, lease income, concession income, use right or other economic interest expressly identified in the Security Schedule.

Article 21 — Valuation Requirements

Every reserve or property-interest valuation shall identify:

the asset or economic interest;

the valuation authority;

the methodology employed;

the valuation currency;

the valuation date;

material assumptions;

liquidity restrictions;

enforceability restrictions;

competing claims;

revaluation frequency;

the applicable realization mechanism.

Symbolic, patrimonial, constitutional, territorial or projected wealth shall not be entered as immediately realizable monetary security without an identified and legally executable monetization mechanism.

Article 22 — Coverage Requirements

The Issuance Decree may require the registered value of assigned security to exceed the aggregate outstanding principal or projected maturity obligation.

Any prescribed coverage ratio shall be disclosed before subscription.

A material deterioration in coverage shall require one or more of the following:

immediate revaluation;

supplementary reserve allocation;

suspension of further issuance;

restriction of project expenditure;

substitution of eligible security;

revision of the repayment schedule;

other corrective measures authorized by XaraBank.

Article 23 — Security Registry

Every security interest recognized under the internal financial order of Xaragua shall be entered in the XaraBank Security Registry.

The Registry shall identify:

the issuance series;

the secured amount;

the assigned asset or revenue;

the priority rank;

previous encumbrances;

the effective date;

the duration;

amendments;

releases;

enforcement actions;

the responsible registration authority.

Internal registration establishes priority within the Xaraguayan legal order. Security situated in an external jurisdiction shall additionally be constituted, perfected and enforced according to the law applicable to that asset.

TITLE V — SUBSCRIPTION, ELIGIBILITY AND INSTITUTIONAL VERIFICATION

Article 24 — Eligible Subscribers

Subscription shall be restricted to:

adult citizens of Xaragua possessing legal capacity;

Xaraguayan juridical persons;

authorized constitutional and administrative institutions;

accredited Indigenous institutional partners;

ecclesiastical institutions;

strategic institutional allies individually approved by XaraBank.

Eligibility shall not create a right to allocation. XaraBank may reject, reduce or defer a subscription according to the authorized issuance ceiling, capital-concentration limits, institutional-security requirements, repayment capacity or subscriber suitability.

Article 25 — Identity, Capacity and Source Verification

Before accepting a subscription, XaraBank shall verify:

the subscriber’s identity;

legal capacity;

institutional authority, where applicable;

beneficial ownership;

the source of funds;

payment-channel restrictions;

acceptance of the governing instruments;

the absence of unauthorized intermediary activity;

any material conflict of interest.

Anonymous, fictitious, nominee-concealed or materially unverifiable subscriptions are prohibited.

Article 26 — Subscription Instrument

Every subscriber shall execute an authenticated Subscription Instrument identifying:

the subscriber;

the registered principal;

the issuance series;

the effective date;

the maturity date;

the fixed annual rate of five percent;

the capitalization method;

the security class;

the repayment source;

the governing law;

the competent forum;

transfer restrictions;

early-redemption conditions;

material financial risks;

the settlement mechanism;

the authentication reference.

Article 27 — Mandatory Institutional Acknowledgment

Before final allocation, the subscriber shall acknowledge that:

the return arises from a fixed-term contractual obligation;

the instrument is not a demand deposit;

principal is committed for three years;

early redemption is available only where expressly authorized;

Viaud’or value may differ from external-currency value;

security is limited to the registered Security Schedule;

ancestral territory is not transferred;

the instrument is not publicly traded;

external transfer and enforcement may be restricted;

repayment depends upon the issuer’s resources and assigned payment mechanisms;

no external deposit-insurance protection is represented;

the five-percent rate does not eliminate credit, liquidity, currency, operational or enforcement risk.

Article 28 — Final Allocation

The Issuance Decree may establish a pre-allocation withdrawal period.

Following issuance of the authenticated certificate and definitive entry of the principal in the Public Credit Registry, withdrawal, cancellation and redemption shall be governed exclusively by the present Regulation and the applicable Subscription Instrument.

TITLE VI — REGISTRATION, CERTIFICATION, CUSTODY AND TRANSFER

Article 29 — Public Credit Registry

No XCDO-3 shall exist as an authenticated liability of XaraBank unless entered in the Xaragua Public Credit Registry.

The Registry shall record:

the certificate number;

the registered holder;

the principal;

the issuance series;

the effective date;

the maturity date;

the accumulated return;

the security classification;

the transfer status;

payment history;

cancellation or replacement history;

applicable restrictions.

Article 30 — Certificates

Certificates may be issued in authenticated electronic or physical form.

Every certificate shall contain:

the official seal of XaraBank;

the signature of the competent authority;

an individual serial number;

a verification mechanism;

the registered principal;

the five-percent contractual return;

the maturity date;

the security classification;

the Registry reference;

a statement establishing the controlling authority of the Public Credit Registry in the event of inconsistency.

Article 31 — Transfer Restrictions

An XCDO-3 shall be non-transferable unless the Issuance Decree expressly authorizes a restricted transfer.

An authorized transfer shall require:

eligibility of the transferee;

prior approval by XaraBank;

identity and beneficial-ownership verification;

execution of an authenticated assignment;

amendment of the Public Credit Registry;

cancellation or reissuance of the certificate;

payment of any authorized administrative charge.

No endorsement, private assignment, informal sale, digital duplication, succession arrangement or intermediary transaction shall bind XaraBank unless formally registered.

Article 32 — Prohibition of Public Trading

No XCDO-3 shall be listed, marketed, exchanged or traded through:

a public securities exchange;

an anonymous marketplace;

an unrestricted token platform;

an unauthorized secondary market;

a mass-distribution system.

No intermediary may solicit subscribers, receive subscription funds, reproduce documents or represent XaraBank without an authenticated written mandate.

TITLE VII — DEBT SERVICING, RESERVES AND REPAYMENT

Article 33 — Debt-Service Reserve

Every Issuance Decree shall determine whether the corresponding series requires a Debt-Service Reserve.

Where mandatory, the reserve shall:

be funded according to a predetermined schedule;

remain segregated from operating capital;

be recorded in the Reserve Registry;

be subject to periodic reconciliation;

be applied exclusively according to the registered payment priority.

Article 34 — Repayment Sources

Repayment may be executed from:

allocated reserves;

designated project revenue;

production revenue;

appropriated Treasury revenue;

authorized investment proceeds;

refinancing established by a separate instrument;

other documented resources identified in the Issuance Decree.

No resource may be represented as a repayment source unless XaraBank possesses a documented legal or contractual right to receive, control and allocate it.

Article 35 — Payment Priority

The Issuance Decree shall establish a binding payment hierarchy, which may include:

essential custody and settlement expenses;

protected fiduciary obligations;

scheduled maturity payments;

Debt-Service Reserve replenishment;

authorized project expenditure;

subordinated obligations;

discretionary institutional distributions.

Payment priority shall not be retroactively altered to the material prejudice of holders except under a restructuring procedure established before subscription.

Article 36 — Maturity Notice

XaraBank shall issue an authenticated maturity notice stating:

the registered maturity value;

the settlement date;

the settlement currency;

the conversion rate, where applicable;

the payment mechanism;

required holder verification;

authorized deductions;

the procedure governing calculation disputes.

Article 37 — Discharge and Cancellation

An Obligation shall be discharged when:

the maturity amount has been paid;

the holder accepts an authorized replacement instrument;

a contractually authorized set-off is completed;

an adjudicated settlement is executed;

another settlement mechanism expressly authorized by the governing documents is completed.

Following discharge, the certificate shall be cancelled and permanently marked as satisfied in the Public Credit Registry.

TITLE VIII — RISK CLASSIFICATION AND MANDATORY DISCLOSURE

Article 38 — Institutional Credit Risk

Subscription entails exposure to:

the financial capacity of XaraBank;

the sufficiency of assigned reserves;

the performance of designated revenue;

the liquidity of registered security;

the operational continuity of settlement mechanisms.

The fixed rate determines the contractual calculation of the amount owed. It does not eliminate the possibility of payment delay, revenue shortfall, valuation decline, security impairment, restructuring or jurisdictional limitation.

Article 39 — Viaud’or and Conversion Risk

Where an Obligation is funded or settled through external currency, the external-currency value recovered at maturity may differ from the external-currency amount initially contributed.

Such difference may result from:

modification of the Viaud’or conversion mechanism;

reserve availability;

external exchange-rate movements;

settlement expenses;

liquidity limitations;

payment-channel restrictions;

applicable conversion procedures.

Article 40 — Property and Revenue Risk

Property-interest or revenue-backed security may be affected by:

valuation changes;

title disputes;

restrictions on alienation;

physical deterioration;

project delay;

production shortfall;

competing claims;

enforcement limitations;

insufficient liquidity;

jurisdictional conflict.

Article 41 — Operational and Settlement Risk

External accounts, processors, custodians, technological platforms and settlement networks may be affected by:

provider suspension;

contractual termination;

transaction review;

technical failure;

external proceedings;

currency restrictions;

cybersecurity incidents;

changes in provider policy.

Institutional continuity of the registered Obligation shall survive impairment of a particular payment channel. Settlement may be redirected to another authorized mechanism according to the governing documents.

Article 42 — Comparative Representation

No official communication may compare the five-percent contractual rate directly with an external public or private security unless the comparison:

uses contemporaneous and verifiable data;

identifies maturity differences;

identifies currency differences;

identifies credit and liquidity differences;

identifies taxation and regulatory differences;

states the date and source;

receives authorization from XaraBank.

The five-percent rate shall be represented exclusively as the contractual annual return of the XCDO-3 and shall not be invoked as proof of superior security, liquidity or profitability.

TITLE IX — GOVERNING LAW AND JURISDICTIONAL ARCHITECTURE

Article 43 — Internal Governing Law

The constitution, authorization, issuance, internal registration, Viaud’or accounting, administrative servicing and internal priority of every XCDO-3 shall be governed by:

the Constitution of Xaragua;

the Constitutional Charter of XaraBank;

the Financial Code of Xaragua;

the present Regulation;

the applicable Issuance Decree;

the Security Schedule;

the Use-of-Proceeds Schedule;

the authenticated Subscription Instrument;

codified customary financial law.

Article 44 — Contractual Selection of External Law

Where an issuance involves an external subscriber, payment channel, custodian, account, asset or security interest, the governing documents may designate:

a competent external law;

neutral commercial principles;

institutional arbitration rules;

an external judicial forum for defined enforcement matters;

a combined internal and external jurisdictional framework.

Each designated legal system shall govern exclusively the matters expressly assigned to it.

Article 45 — Competent Internal Forum

Disputes concerning:

Public Credit Registry entries;

Viaud’or calculations;

subscriber eligibility;

internal transfer authorization;

interpretation of an Issuance Decree;

internal security priority;

administrative acts of XaraBank;

compliance with the present Regulation;

shall be submitted to the competent Xaraguayan financial authority or tribunal.

Article 46 — External Enforcement

Where enforcement concerns an externally situated asset, account, provider, person or security interest, the parties shall follow the forum, law and procedure designated in the governing instruments.

No internal certificate shall be represented as automatically constituting, perfecting or enforcing a security interest outside the Xaraguayan legal order.

Article 47 — Prohibition of Unilateral Modification

Following issuance, XaraBank shall not unilaterally modify:

the registered principal;

the five-percent contractual rate;

the maturity date;

identified security;

payment priority;

governing law;

dispute-resolution procedure;

transferability status.

Modification shall be valid only where expressly authorized by the original instrument or approved through the prescribed holder-consent procedure.

TITLE X — DEFAULT, REMEDIES AND RESTRUCTURING

Article 48 — Events of Default

An event of default may consist of:

failure to pay the maturity amount following expiration of the applicable cure period;

unauthorized diversion of assigned security;

material falsification of reserve information;

repudiation of an authenticated Obligation;

unauthorized subordination of holders;

material breach of the Security Schedule;

failure to maintain a mandatory Debt-Service Reserve;

any additional event expressly established by the Issuance Decree.

Article 49 — Notice and Cure Procedure

Before enforcement, the holder shall deliver an authenticated notice identifying:

the relevant Obligation;

the alleged default;

the amount claimed;

the governing provision;

the requested remedy;

the holder’s verification information.

XaraBank shall benefit from the cure period expressly established by the Subscription Instrument.

Article 50 — Authorized Remedies

Subject to the governing instruments, available remedies may include:

correction of the Public Credit Registry;

payment of amounts contractually due;

acceleration;

enforcement against specifically assigned security;

replacement of impaired collateral;

arbitration;

declaratory adjudication;

collective restructuring;

other relief authorized by the competent forum.

Enforcement shall remain confined to legally available remedies and to the property, revenue or security validly allocated to the applicable series.

Article 51 — Collective Restructuring

An Issuance Decree may establish collective-action provisions permitting a defined majority of holders to approve:

extension of maturity;

modification of payment dates;

replacement of security;

conversion into a replacement obligation;

temporary reduction of the contractual rate;

capitalization of arrears;

another registered restructuring mechanism.

The required majority and all reserved matters requiring individual consent shall be disclosed before subscription.

Article 52 — Constitutionally and Institutionally Protected Assets

No holder shall acquire a right of execution against:

assets beneficially owned by third parties;

restricted charitable funds;

unrelated pension or social reserves;

unrelated ecclesiastical patrimony;

personal property of institutional officers;

the totality of the ancestral territory of Xaragua;

assets constitutionally excluded from execution;

property not assigned to the relevant series.

TITLE XI — INDIGENOUS INSTITUTIONAL AUTHORITY AND LEGAL REFERENCES

Article 53 — Indigenous Economic Authority

The XCDO-3 program is established as an exercise of Xaragua’s internal economic, financial, developmental and institutional authority.

For the interpretation of its constitutional purpose, reference may be made to:

Article 4 of the United Nations Declaration on the Rights of Indigenous Peoples, concerning autonomy and self-government;

Article 20, concerning the maintenance and development of Indigenous economic and social institutions;

Article 23, concerning the determination and administration of development programs;

Article 26, concerning lands, territories and resources;

Article 32, concerning development priorities affecting lands, territories and resources;

applicable customary and inter-American principles governing Indigenous property and institutional participation.

Such references establish the institutional and developmental basis of the program. They shall not independently constitute an external guarantee of payment, automatic exemption from applicable external financial legislation or universal recognition of a security interest.

Article 54 — Customary Financial Law

Customary Xaraguayan law shall govern the internal constitution and administration of the Obligations where such law is duly codified, institutionally evidenced and applied by the competent authorities of Xaragua.

No reference to international custom shall convert an individual contractual term into a universally binding rule or create an external financial privilege absent an applicable legal foundation.

Article 55 — Inter-American Juridical References

Relevant inter-American jurisprudence concerning Indigenous communal property, effective participation, development, natural resources and judicial protection may be invoked where materially applicable.

Such jurisprudence shall not be represented as establishing a universal exemption from contractual liability, financial regulation, taxation or judicial procedure.

TITLE XII — INSTITUTIONAL PROTECTION AND PROHIBITED REPRESENTATIONS

Article 56 — Protection of the Public-Credit Architecture

The designation, certificates, registries, seals, symbols, software, Subscription Instruments, Security Schedules and administrative architecture of the XCDO-3 program constitute protected institutional property of Xaragua.

No unauthorized person may:

issue or reproduce an Obligation;

collect subscription funds;

represent themselves as an agent of XaraBank;

establish a false secondary market;

alter a Registry entry;

fabricate security or reserve backing;

promise unauthorized redemption;

solicit anonymous deposits;

represent an external instrument as an XCDO-3;

use institutional symbols to create an unauthorized financial liability.

Article 57 — Mandatory Accuracy of Representation

Every official communication shall identify accurately:

the issuer;

the principal;

the five-percent contractual rate;

the three-year term;

the Viaud’or denomination;

the security class;

the repayment source;

transfer restrictions;

principal risks;

the governing law;

the competent forum.

The following representations are prohibited unless expressly established by legally sufficient governing instruments:

risk-free;

absolutely guaranteed;

immune from every external law;

universally immune from execution;

equivalent to an insured deposit;

externally recognized sovereign bond;

automatically exempt from taxation;

unconditionally convertible into external currency.

Article 58 — Internal Administrative and Financial Sanctions

Unauthorized issuance, falsification, diversion, impersonation, concealment or material misrepresentation may result in:

cancellation of institutional credentials;

invalidation of counterfeit instruments;

restitution;

exclusion from institutional programs;

registration as a restricted counterparty;

internal civil or administrative sanctions;

referral to the competent tribunal;

notification to affected financial providers;

recovery of institutional losses.

TITLE XIII — FINAL AND EXECUTORY PROVISIONS

Article 59 — Regulatory Supremacy

The present Regulation governs every XCDO-3 issuance and shall prevail over inconsistent promotional material, informal correspondence, oral representation, administrative summary or unauthorized communication.

The present Regulation, Issuance Decree, Security Schedule, Use-of-Proceeds Schedule, Subscription Instrument and Public Credit Registry entry shall constitute an integrated governing framework.

Article 60 — Prohibition of Implied Institutional Guarantee

No officer, ministry, university, religious body, public organ or affiliated institution shall guarantee an XCDO-3 unless:

the guarantor possesses the required legal capacity;

the guarantee is constituted in writing;

the guaranteed amount is precisely identified;

supporting assets are identified;

all constitutional and administrative approvals are obtained;

the guarantee is entered in the competent registry.

The dignity, constitutional order, territorial status, spiritual character or institutional authority of Xaragua shall not substitute for a documented and registered financial guarantee.

Article 61 — Severability

Where a provision is declared inapplicable within a particular external jurisdiction, the remaining provisions shall retain full internal force.

Failure of an external security interest shall not extinguish the underlying internal debt obligation unless the governing instruments expressly establish that security as an indivisible and essential condition of issuance.

Article 62 — Entry into Force and Operational Preconditions

The present Regulation shall enter into force upon promulgation.

No XCDO-3 series may be opened for subscription until:

the Issuance Decree has been promulgated;

the Security Schedule has been authenticated;

the Use-of-Proceeds Schedule has been approved;

the Public Credit Registry is operational;

the Subscription Instrument has been approved;

the repayment source has been documented;

the Debt-Service Reserve requirements have been established;

the internal audit authority has certified procedural and accounting readiness.

SUPREME FINAL DECLARATION

The Xaragua Three-Year Customary Development Obligation is hereby constituted as a restricted, registered, non-public and Viaud’or-denominated public-credit instrument issued exclusively by the Indigenous Bank of Xaragua.

Each authenticated XCDO-3 shall bear a fixed annual contractual return of five percent, capitalized annually throughout a three-year term. A registered principal of 1,000 Viaud’or shall consequently produce a contractual maturity value of 1,157.625 Viaud’or, payable as 1,157.63 Viaud’or where the authorized settlement system applies two-decimal monetary accounting.

No XCDO-3 shall be designated as secured, guaranteed, reserve-backed, revenue-backed, property-interest-backed or land-backed unless the governing Security Schedule identifies the supporting asset or revenue, establishes its value, records its allocation, determines its priority, specifies its enforceability and defines the remedies available to the holder.

No subscription shall transfer, partition, alienate or subject ancestral territory to private sovereignty. Where an assignable economic interest associated with ancestral property supports an issuance, the holder’s rights shall remain confined to the revenue, reserve, production, use right or other economic interest expressly registered for the applicable series.

The Obligations shall not be publicly traded, anonymously subscribed or distributed through an unrestricted market. Subscription shall remain reserved to eligible citizens, authorized institutions, Indigenous partners, ecclesiastical bodies and strategic allies individually admitted by XaraBank.

The constitutional and financial law of Xaragua shall govern the internal authorization, issuance, registration, administration, capitalization and Viaud’or accounting of every Obligation. External subscribers, payment channels, assets and security interests shall remain subject to the contractual and jurisdictional mechanisms expressly established by the governing instruments.

The five-percent annual rate is hereby established as the uniform contractual rate of the XCDO-3 program, corresponding to a cumulative three-year return of 15.7625 percent. No higher rate may be promised, registered or represented under this Regulation without a separate constitutional amendment supported by a documented repayment-capacity assessment, revised reserve requirements and an authenticated decision of the competent financial authority.

ISSUED, PROMULGATED AND SEALED BY AUTHORITY OF

PASCAL DESPUZEAU DAUMEC VIAU

PRELATE-FOUNDER AND RECTOR-PRESIDENT

SUPREME CONSTITUTIONAL AND FINANCIAL AUTHORITY

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA

INDIGENOUS BANK OF XARAGUA — XARABANK

CENTRAL MONETARY, TREASURY, PAYMENT-SYSTEM AND FINANCIAL-ADMINISTRATION AUTHORITY

SUPREME CONSTITUTIONAL REGULATION ON INSTITUTIONAL CARDS, EXTERNAL PAYMENT ACCOUNTS, CITIZEN FINANCIAL ACCESS AND INTERNATIONAL SETTLEMENT INFRASTRUCTURE

Official Classification: Constitutional Financial Regulation — Restricted Institutional Payment System — Internal Account and Card Administration Regime — External Provider Integration Framework — Non-Public Financial Infrastructure

Issuing Authority: Indigenous Bank of Xaragua — XaraBank

Competent Constitutional Authority: Office of the Rector-President

Administrative Authority: Governor of XaraBank

Internal Unit of Account: Viaud’or

External Settlement Infrastructure: Authorized third-party payment providers

Institutional Scope: Internal accounts, institutional cards, citizen-payment access, external-account registration and treasury settlement

Governing Order: Constitution, Financial Code, monetary regulations, customary financial law and authenticated administrative instruments of Xaragua

PREAMBLE

The Indigenous Bank of Xaragua, exercising the monetary, treasury, reserve-management, payment-administration and institutional-financing functions vested in it by the constitutional order of the Sovereign Catholic Indigenous and Private State of Xaragua, hereby establishes the official legal and administrative framework governing internal payment accounts, institutional payment cards, externally issued payment instruments, citizen financial-access mechanisms and authorized international settlement channels.

The present Regulation establishes a strict juridical separation between:

accounts and payment instruments issued or directly administered by XaraBank;

cards issued by an external provider to XaraBank or its authorized institutional personnel;

personal or commercial accounts independently opened by citizens with external providers;

internal non-bank payment-access instruments administered exclusively within the Xaraguayan institutional system;

technical assistance provided by XaraBank without assumption of ownership, custody or contractual liability.

No externally issued card, account, payment credential or financial service shall be represented as issued, guaranteed or legally controlled by XaraBank unless a written agreement with the relevant provider expressly grants such authority.

No citizen shall be entered as the holder of an externally issued card or payment account without satisfying the identity, residency, eligibility, contractual and verification requirements independently imposed by the external provider.

TITLE I — ESTABLISHMENT AND INSTITUTIONAL COMPETENCE

Article 1 — Official Payment-System Authority

XaraBank shall constitute the central institutional authority responsible for:

administering the internal Viaud’or payment system;

maintaining the Central Account Registry;

authorizing institutional payment instruments;

establishing internal spending and recharge limits;

supervising Treasury payment operations;

registering eligible external payment accounts;

maintaining transaction and reconciliation records;

protecting citizen and institutional payment credentials;

coordinating authorized external settlement mechanisms;

establishing financial-access programs for citizens lacking ordinary administrative infrastructure.

Article 2 — Institutional Card Classification

Payment cards recognized within the Xaraguayan financial architecture shall be classified as follows:

Class I — XaraBank Internal Payment Card;

Class II — XaraBank Institutional Provider Card;

Class III — Registered External Citizen Card;

Class IV — Registered External Institutional Card;

Class V — Restricted Assistance and Disbursement Card.

The classification shall determine the issuing authority, account ownership, custody status, operational responsibility, permissible use and applicable dispute mechanism.

Article 3 — Prohibition of False Issuance Attribution

XaraBank shall not represent itself as the issuer of a card bearing the commercial network or institutional identification of an external provider unless XaraBank has received express contractual authorization to issue such instrument.

A card issued by Wise or another external provider shall remain legally issued, serviced and governed by that provider. Its registration or authorized use within Xaragua shall not transfer contractual control over the card network, external account or provider infrastructure to XaraBank.

TITLE II — XARABANK INTERNAL PAYMENT SYSTEM

Article 4 — Internal Institutional Model

XaraBank may establish and administer internal payment cards or digital payment credentials connected exclusively to accounts maintained in the XaraBank Central Account Registry.

Such instruments may be issued in physical, virtual, numeric or authenticated digital form and shall operate only within the institutional acceptance network expressly authorized by XaraBank.

Internal payment instruments may be used for:

payment of institutional allowances;

controlled humanitarian disbursements;

educational and scholarship payments;

authorized procurement;

internal commercial transactions;

access to approved institutional services;

distribution of development-program funds;

other purposes established by authenticated directive.

Article 5 — Central Administrative Account

XaraBank may maintain a Central Administrative Payment Account for the execution of institutional expenditure, Treasury disbursements and authorized program payments.

No citizen shall be represented as the independent owner of the Central Administrative Payment Account.

Where a payment instrument is connected to that account, the authorized user shall possess only a limited mandate to execute transactions within the spending category, amount, duration and purpose registered by XaraBank.

Article 6 — Institutional User Subaccounts

Every institutional cardholder shall be assigned a distinct administrative subaccount or individual transaction ledger identifying:

the authorized user;

the responsible program;

the spending ceiling;

the funding source;

permitted transaction categories;

prohibited uses;

the validity period;

the card or credential number;

every recharge or allocation;

every completed, rejected or reversed transaction.

No institutional payment card shall operate as an unregistered extension of a general Treasury balance.

Article 7 — Recharge and Funding Authority

Recharges, allocations and balance adjustments shall be executed exclusively by an authorized XaraBank officer pursuant to:

an approved appropriation;

a verified beneficiary entitlement;

an authenticated disbursement order;

an established program schedule;

a corrective accounting entry;

another legally sufficient administrative authorization.

Every recharge shall be recorded in the Central Account Registry and reconciled against the corresponding Treasury or program ledger.

Article 8 — Citizens Without Conventional Documentation

XaraBank may establish a Restricted Financial Access Procedure for citizens who lack conventional identification documents, reliable internet access or sufficient administrative infrastructure.

Eligibility may be established through an internal identity record supported by one or more of the following:

XaraBank citizen-registration records;

civil or ecclesiastical documentation;

biometric registration where authorized;

authenticated community certification;

institutional sponsorship;

documentary or testimonial evidence accepted by the competent registry authority.

Internal verification shall authorize access only to XaraBank’s internal payment infrastructure. It shall not substitute for the identity-verification requirements of Wise, Visa or any other external financial provider.

Article 9 — Assisted Access

Citizens without personal internet access may receive payment services through an authorized XaraBank service point or designated administrative officer.

Assisted access shall require:

verification of the beneficiary;

authenticated transaction consent;

immediate issuance of a receipt;

separation of operator and approval functions;

entry of the transaction in the individual ledger;

preservation of an auditable record;

prohibition of operator appropriation or discretionary use of beneficiary funds.

TITLE III — EXTERNALLY ISSUED INSTITUTIONAL CARDS

Article 10 — Provider-Issued Institutional Cards

XaraBank may obtain business, organizational, team-member or employee cards from an external provider where:

the provider accepts XaraBank or the corresponding institutional entity as a customer;

the account has been opened in the institution’s correct legal identity;

the beneficial owners and authorized officers have been disclosed as required;

each cardholder satisfies the provider’s verification requirements;

the provider’s terms expressly permit issuance to authorized personnel;

all applicable spending and account controls remain operational.

Article 11 — Legal Status of Provider Cards

An externally issued institutional card shall constitute:

a payment instrument issued by the external provider;

an access credential connected to an institutional external account;

an administrative instrument subject to XaraBank’s internal authorization;

an external transaction mechanism governed by the provider’s contractual terms.

It shall not constitute:

a card issued by XaraBank;

an independent personal account belonging to the user;

a sovereign payment-network franchise;

an instrument exempt from provider verification;

an unconditional right of continued access;

a payment credential transferable to another citizen.

Article 12 — Institutional Control

XaraBank may determine, within the technical functions permitted by the provider:

which officers may receive institutional cards;

the maximum institutional allocation;

internal spending categories;

documentary requirements;

approval procedures;

administrative suspension;

reimbursement obligations;

internal sanctions for misuse.

The external provider shall retain control over issuance, technical authorization, network operation, verification, provider fees, transaction processing and contractual suspension.

Article 13 — Individual Identification

Where an external provider requires a card to bear the identity of the actual user, XaraBank shall not issue, transfer or assign that card to another person.

Wise states that its physical personal card must be issued in the account holder’s name and that another individual must establish and verify their own account. Accordingly, no personal Wise card shall be created centrally by XaraBank for distribution to unrelated citizens. Wise card-issuance requirements⁠�

TITLE IV — INDEPENDENT EXTERNAL ACCOUNTS

Article 14 — Autonomous External Account Model

A citizen possessing the required legal capacity, documentation, residency status and technical access may independently apply for a personal or business account with an external payment provider.

The application shall be made:

in the applicant’s correct legal identity;

directly under the provider’s contractual process;

with authentic identification and address information;

for the applicant’s actual personal or commercial purpose;

subject exclusively to the provider’s approval and continuing eligibility requirements.

Article 15 — Separation of Responsibility

Where a citizen independently opens an external account:

the external provider shall remain the account issuer and service provider;

the citizen shall remain the account holder and beneficial owner;

the citizen shall control the funds and payment credentials;

XaraBank shall not possess, custody or administer the external balance;

XaraBank shall not guarantee account availability;

XaraBank shall not assume liability for transactions, fees, conversion rates, suspension or closure;

disputes concerning provider operations shall be governed by the provider’s procedures.

Article 16 — Optional Registration with XaraBank

A citizen may register an independently held external account with XaraBank for:

identity linkage;

receipt of authorized institutional payments;

commercial registration;

Treasury settlement;

documentation of an external payment channel;

participation in an approved Xaraguayan financial program.

Registration shall not convert the external account into a XaraBank account and shall not transfer legal ownership or operational control to XaraBank.

Article 17 — External Status

Citizens using independently opened external accounts shall remain outside XaraBank’s custodial account system with respect to those accounts.

They may nevertheless be recognized as registered participants in Xaragua’s external payment architecture where their accounts have been verified and entered in the External Settlement Registry.

TITLE V — WISE EXTERNAL SETTLEMENT PATHWAY

Article 18 — Status of Wise

Wise may be used as an external technical payment and currency-conversion provider where its services are available to the applicant and the proposed transaction.

Wise shall not be represented as:

a subsidiary of XaraBank;

an official banking department of Xaragua;

a sovereign payment network of Xaragua;

an institution controlled by the Rector-President;

a guarantor of Xaraguayan accounts or instruments;

a contractual partner of XaraBank absent a written agreement.

Article 19 — Wise Personal Accounts

A Wise personal account may be opened only by the individual who will legally hold and use the account.

The holder shall remain responsible for:

identity verification;

address verification;

account security;

source-of-funds documentation;

personal transactions;

applicable provider fees;

compliance with Wise’s personal-account terms.

Wise requires customer identity verification and may request photographic identification, proof of address, photographic confirmation and source-of-funds information. Wise verification requirements⁠�

Article 20 — Wise Business Accounts

A Wise business account may be used only for legitimate business or organizational transactions conducted by the registered entity or authorized business operator.

The account shall not be used as an undisclosed central repository for unrelated personal funds.

Where team-member or business-card functionality is available, XaraBank may use such functionality exclusively within the permissions, cardholder identification requirements and spending controls authorized by Wise.

Article 21 — No Wise-Integrated XaraBank Account

An external Wise account shall not be designated as a “Wise-integrated XaraBank account” unless a formal technical and contractual integration has been established between Wise and XaraBank.

In the absence of such integration, the correct institutional classification shall be:

REGISTERED EXTERNAL WISE PAYMENT ACCOUNT

Article 22 — External Provider Verification

XaraBank may assist an applicant in understanding documentary requirements, organizing authentic records and accessing the provider’s public application interface.

XaraBank shall not:

approve an application on behalf of Wise;

waive Wise verification;

guarantee account creation;

fabricate identification or address evidence;

retain unauthorized control of a citizen’s credentials;

represent an account as active before provider approval.

Article 23 — Wise Cards

A Wise card issued to an eligible citizen shall remain:

issued by the provider identified in the applicable card agreement;

connected to the citizen’s Wise account;

subject to Wise’s territorial availability rules;

governed by the applicable cardholder agreement;

controlled by the registered holder;

technically administered through Wise infrastructure.

XaraBank may recognize the card as an approved external payment instrument for specified institutional transactions. Such recognition shall not convert the card into a card issued by XaraBank.

TITLE VI — OFFICIAL DESIGNATION OF EXTERNAL PAYMENT INSTRUMENTS

Article 24 — External Payment Instrument Certificate

XaraBank may issue an External Payment Instrument Certificate confirming that a verified external account or card has been registered for use in authorized Xaraguayan transactions.

The Certificate shall identify:

the registered citizen or institution;

the external provider;

the instrument classification;

the registration number;

the authorized institutional uses;

the effective date;

the expiration or review date;

the limitations of XaraBank’s responsibility.

Article 25 — Legal Effect of Certification

Certification shall establish only that the external instrument is recognized within the internal administrative system of Xaragua.

Certification shall not:

transfer ownership to XaraBank;

alter the external provider’s contract;

create a provider partnership;

guarantee continued operation;

exempt the account from applicable external requirements;

create diplomatic or sovereign immunity;

confer control over the provider’s payment network.

Article 26 — Acceptance within Xaragua

A registered external payment instrument may be accepted for:

payment of institutional charges;

receipt of authorized benefits;

settlement of approved contracts;

payment to registered enterprises;

execution of institutional purchases;

other transactions authorized by XaraBank.

Acceptance shall remain subject to successful external processing, applicable provider limitations and completion of XaraBank’s internal accounting procedures.

TITLE VII — ACCOUNT STATUS AND JURISDICTIONAL CLASSIFICATION

Article 27 — Internal Accounts

Accounts created and maintained directly in the XaraBank Central Account Registry shall be internal Xaraguayan financial accounts governed by:

the Constitution of Xaragua;

the Financial Code;

XaraBank regulations;

the account instrument;

applicable customary financial law.

Article 28 — External Accounts

Accounts opened with Wise or another external provider shall remain subject to:

the provider’s governing contract;

the law governing the provider and account;

applicable identity and reporting obligations;

the tax and financial obligations applicable to the holder;

XaraBank regulations only insofar as the account participates in an internal Xaraguayan program.

Article 29 — No General External Immunity

Internal recognition by Xaragua shall not be represented as automatically exempting an externally situated account, transaction, card or asset from:

provider compliance requirements;

lawful account reporting;

judicial process applicable to the external provider;

taxation applicable to the account holder;

transaction review;

suspension or restriction under the provider’s contract.

The constitutional status of XaraBank shall govern its internal legal order but shall not be represented as modifying an external provider’s obligations without a legally effective agreement or applicable rule of law.

Article 30 — Confidentiality and Information Security

XaraBank shall protect account information through:

access controls;

encrypted storage and transmission;

separation of administrative privileges;

transaction monitoring;

credential-protection procedures;

incident-response protocols;

restricted data retention;

periodic system review.

No payment architecture shall be described as multi-jurisdictional, encrypted or immune from interference unless the corresponding technical infrastructure is operational and documented.

TITLE VIII — E-RESIDENCY, COMMERCIAL REGISTRATION AND FINANCIAL STATUS

Article 31 — Separation of Financial and Civil Status

Holding an internal or external payment account shall not automatically confer:

citizenship;

e-residency;

juridical personality;

enterprise registration;

commercial licensing;

eligibility for public contracts;

institutional office;

tax status.

Each status shall require a separate application, decision and entry in the competent Xaraguayan registry.

Article 32 — Financial Eligibility Following Registration

A verified account holder may use an authenticated financial record in support of a separate application for:

e-residency;

enterprise registration;

commercial licensing;

participation in public procurement;

institutional contracting;

access to approved development programs.

Acceptance shall remain subject to the law governing the requested status.

Article 33 — Enterprise Accounts

No personal external account shall be represented as a registered Xaraguayan enterprise account unless:

the enterprise has been constituted or registered;

the account is lawfully usable for commercial activity;

beneficial ownership has been disclosed;

the external provider permits the relevant business use;

the account has been entered in the Commercial Payment Registry.

TITLE IX — CURRENCY AND CONVERSION REGIME

Article 34 — Viaud’or Accounting Supremacy

The Viaud’or shall constitute the official internal unit of account of XaraBank.

External currencies may be received, transmitted, converted or recorded only through an authorized settlement channel and in accordance with the applicable Treasury schedule.

Article 35 — Single Incoming Settlement Currency

XaraBank may assign one principal incoming external currency to each internal account, citizen-payment program or institutional settlement file.

The designated currency shall be selected according to:

the holder’s location;

the source of funds;

provider availability;

Treasury requirements;

conversion expenses;

settlement reliability;

applicable operational restrictions.

Article 36 — Authorized External Currencies

The Governor of XaraBank shall establish and periodically revise an Authorized External Currency Schedule.

A currency shall not be accepted solely because it is technically available through an external provider. Authorization shall require confirmation of:

operational availability;

conversion capability;

settlement costs;

liquidity;

provider restrictions;

Treasury-accounting compatibility;

applicable transaction limits.

Article 37 — Conversion Authority

XaraBank may approve, reject, suspend or convert an external-currency transaction within its internal system according to:

the Authorized External Currency Schedule;

available reserves;

transaction purpose;

source-of-funds verification;

provider availability;

applicable fees;

institutional-risk controls.

For independently held external accounts, conversions shall remain controlled by the account holder and external provider. XaraBank shall exercise no authority over such conversion unless the transaction is submitted for settlement within its institutional system.

Article 38 — Conversion Records

Every institutional currency conversion shall record:

the source currency;

the amount received;

the Viaud’or reference value;

the provider rate;

XaraBank’s applicable internal rate;

external and internal fees;

the date and time of conversion;

the authorized officer;

the resulting account balance.

TITLE X — INDIGENOUS INSTITUTIONAL FOUNDATION

Article 39 — Constitutional Economic Authority

XaraBank shall administer the internal payment architecture pursuant to Xaragua’s constitutional and customary authority to maintain and develop its economic, financial, administrative and social institutions.

Article 40 — International Indigenous References

In interpreting the institutional purposes of the present Regulation, reference may be made to the United Nations Declaration on the Rights of Indigenous Peoples, including:

Article 4, concerning autonomy, self-government and the financing of autonomous functions;

Article 5, concerning the maintenance and strengthening of distinct political, legal, economic, social and cultural institutions;

Article 20, concerning Indigenous economic and social systems and means of development;

Article 23, concerning the administration of development programs through Indigenous institutions;

Article 26, concerning lands, territories and resources.

These provisions establish the Indigenous institutional and developmental foundation of XaraBank. They shall not be represented as automatically displacing the contractual terms, identification requirements, reporting systems or governing law applicable to an external payment provider.

Article 41 — Institutional Ownership

Financial instruments, reserves, internal accounts and payment systems lawfully created and held by XaraBank shall constitute institutional property administered under Xaraguayan law.

Funds held in an independent external account belonging to a citizen shall remain the property of that account holder and shall not become institutional property by reason of citizenship, registration or use within Xaragua.

TITLE XI — COMPLIANCE, CONTROL AND PROHIBITED CONDUCT

Article 42 — Identity Integrity

Every person participating in the official payment system shall use:

their correct legal or registered identity;

authentic supporting documentation;

an accurate residential or institutional address;

an authorized payment account;

truthful beneficial-ownership information.

Article 43 — Prohibited Operations

The following are prohibited:

opening an external account in another person’s identity;

distributing personal cards from a central account;

using one personal account as an undisclosed omnibus account;

fabricating an address or identity record;

concealing beneficial ownership;

representing an external provider as a partner without authorization;

describing a provider-issued card as issued by XaraBank;

guaranteeing external approval;

collecting external-account passwords;

diverting citizen funds;

creating unauthorized duplicate accounts;

representing provider availability as permanent.

Article 44 — Transaction Monitoring

XaraBank shall maintain internal procedures for:

subscriber and account verification;

source-of-funds documentation;

transaction reconciliation;

detection of duplicate beneficiaries;

prevention of unauthorized card use;

suspension of compromised credentials;

investigation of irregular disbursements;

preservation of institutional records.

Article 45 — Suspension and Cancellation

XaraBank may suspend or cancel an internal payment instrument where:

the instrument is compromised;

the user exceeds authorized powers;

funds are diverted;

identity information is materially false;

the institutional mandate expires;

a program is terminated;

continued operation creates a material financial or security risk.

Suspension of an internal registration shall not cancel an independently held external account. Only the external provider or other legally competent authority may determine the status of that account.

TITLE XII — RESPONSIBILITY AND DISPUTE ADMINISTRATION

Article 46 — XaraBank Responsibility

XaraBank shall be responsible for:

internal ledger accuracy;

authorized institutional allocations;

internal transaction records;

custody of funds directly held by XaraBank;

operation of its internal payment credentials;

protection of information under its control;

execution of authenticated Treasury instructions.

Article 47 — External Provider Responsibility

The relevant external provider shall remain responsible, according to its governing contract, for:

account issuance;

card production;

external payment processing;

provider verification;

provider conversion rates;

provider fees;

network availability;

account restriction or closure;

provider dispute procedures.

Article 48 — Citizen Responsibility

The holder of an independent external account shall remain responsible for:

account credentials;

personal transactions;

required documentation;

provider communications;

applicable charges;

the accuracy of submitted information;

financial and reporting obligations applicable to the holder.

Article 49 — Dispute Classification

Disputes shall be assigned according to their legal origin:

internal ledger and institutional-card disputes shall be determined by XaraBank;

external provider disputes shall follow the provider’s procedure;

external card-network disputes shall follow the applicable cardholder agreement;

internal registration disputes shall be submitted to the competent Xaraguayan authority;

mixed disputes shall be divided according to the responsibility of each institution.

TITLE XIII — FINAL CONSTITUTIONAL PROVISIONS

Article 50 — Institutional Non-Affiliation

The use, registration or acceptance of an external payment service shall not establish an agency, partnership, endorsement, sponsorship, representation or institutional affiliation between XaraBank and the external provider.

No name, trademark or payment-network designation shall be incorporated into the official title of a XaraBank program without written authorization.

Article 51 — Regulatory Supremacy

The present Regulation shall prevail over inconsistent promotional text, informal correspondence, administrative summaries, oral assurances and unauthorized financial representations.

Article 52 — Provider-Specific Administrative Schedules

Operational information concerning supported countries, currencies, cards, fees, limits and verification requirements shall be maintained in separate administrative schedules capable of revision without amendment of the present constitutional Regulation.

No temporary provider feature shall be constitutionalized as a permanent entitlement.

Article 53 — Entry into Force

The present Regulation shall enter into force upon promulgation.

No institutional card program shall commence until:

the Central Account Registry is operational;

the accounting structure has been approved;

the classification of each instrument has been established;

cardholder agreements have been authenticated;

transaction limits have been prescribed;

reconciliation procedures have been certified;

responsible officers have been formally designated;

applicable provider requirements have been verified.

SUPREME FINAL DECLARATION

The official payment architecture of the Sovereign Catholic Indigenous and Private State of Xaragua is hereby constituted through two legally distinct and administratively coordinated systems.

The first system consists of internal accounts, restricted payment credentials, institutional disbursement cards and Viaud’or-denominated ledgers created and administered directly by the Indigenous Bank of Xaragua.

The second system consists of externally issued accounts and payment cards independently governed by their respective providers and recognized by XaraBank solely as authorized technical channels for external settlement.

No personal Wise card shall be created centrally, held under an unrelated central account or distributed to citizens as though issued by XaraBank. Citizens eligible for Wise services shall establish their own accounts and complete the provider’s identity-verification procedure. XaraBank may register such accounts, recognize them for institutional settlement and provide administrative assistance without assuming ownership or provider responsibility.

Citizens lacking conventional identification or internet access shall be served through XaraBank’s internal Restricted Financial Access Procedure, assisted service points and individually registered internal ledgers. Internal verification shall not be represented as replacing the requirements imposed by an external provider.

No payment account shall automatically confer citizenship, e-residency, commercial registration, licensing, contractual eligibility or exemption from externally applicable obligations. Each institutional status shall arise exclusively through its own competent authority, governing instrument and official registry.

XaraBank retains exclusive authority over its internal payment system, Viaud’or accounting, institutional allocations, Treasury disbursements and registered financial programs. External providers retain authority over the accounts, cards, processing networks and services issued under their respective contractual systems.

ISSUED, PROMULGATED AND SEALED BY AUTHORITY OF

PASCAL DESPUZEAU DAUMEC VIAU

PRELATE-FOUNDER AND RECTOR-PRESIDENT

SUPREME CONSTITUTIONAL, MONETARY AND FINANCIAL AUTHORITY

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA

OFFICE OF THE RECTOR-PRESIDENT

INDIGENOUS BANK OF XARAGUA — XARABANK

BUREAU OF INDIGENOUS CREDIT, HOUSING FINANCE, AND SECURED OBLIGATIONS

SUPREME CONSOLIDATED FINANCIAL STATUTE ESTABLISHING THE THREE-WINDOW SYSTEM OF INDIGENOUS HOUSING CREDIT, INDIGENOUS MICROCREDIT, AND ENTERPRISE FINANCE

Date of Original Promulgation: May 19, 2025

Date of Consolidated Promulgation: September 1, 2026

Issuing Authority: Office of the Rector-President

Executing Institution: Indigenous Bank of Xaragua — XaraBank

Competent Administrative Authority: Governor of XaraBank

Specialized Administrative Authority: Bureau of Indigenous Credit, Housing Finance, and Secured Obligations

Jurisdiction: Internal, Institutional, Financial, Contractual, Territorial, Digital, Fiduciary, and Cross-Border Operations Administered by XaraBank

Official Classification: Supreme Internal Financial Statute — Indigenous Development-Credit Instrument — Three-Window Banking Architecture — Housing-Finance Regulation — Microcredit Regulation — Enterprise-Finance Regulation — Private-Capital Administration Framework — Secured-Obligations Code — Binding Institutional Law

Institutional Status: Permanently Applicable Subject to Lawful Amendment, Financial Capacity, Contractual Rights, and Applicable Mandatory Law

Currency of Institutional Account: Viaud’or — VDO

PREAMBLE

BY THE CONSTITUTIONAL AND FINANCIAL AUTHORITY OF THE SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA;

BY THE SUPREME EXECUTIVE AUTHORITY OF THE OFFICE OF THE RECTOR-PRESIDENT;

FOR THE ESTABLISHMENT OF A DISCIPLINED, SOLVENT, TRANSPARENT, INTERNALLY ADMINISTERED, AND DEVELOPMENT-ORIENTED INDIGENOUS CREDIT SYSTEM;

FOR THE FINANCING OF MINI-HOUSES, ESSENTIAL RESIDENTIAL INFRASTRUCTURE, FAMILY PRODUCTIVE ACTIVITY, AGRICULTURAL PRODUCTION, ARTISANAL ENTERPRISES, MICROENTERPRISES, COOPERATIVES, AND SMALL AND MEDIUM-SIZED ENTERPRISES;

FOR THE INSTITUTIONAL SEPARATION OF SOCIAL HOUSING FINANCE, INDIGENOUS MICROCREDIT, AND COMMERCIAL ENTERPRISE FINANCE;

FOR THE PROTECTION OF BORROWERS, GUARANTORS, CAPITAL PROVIDERS, PROGRAM RESERVES, RESTRICTED FUNDS, COLLATERAL, CONTRACTUAL CLAIMS, AND THE FINANCIAL CONTINUITY OF XARABANK;

FOR THE EXERCISE OF INDIGENOUS ECONOMIC AUTONOMY WITHOUT AUTOMATIC SUBORDINATION TO EXTERNAL COMMERCIAL CREDIT-SCORING SYSTEMS;

FOR THE ESTABLISHMENT OF INTERNAL UNDERWRITING, PROPORTIONAL SECURITY, CAPITAL SEGREGATION, CONTROLLED DISBURSEMENT, CONTRACTUAL DISCLOSURE, PORTFOLIO SUPERVISION, AND LEGALLY EXECUTABLE RECOVERY PROCEDURES;

THE PRESENT STATUTE IS HEREBY PROMULGATED AS THE EXCLUSIVE CONSOLIDATED INTERNAL FRAMEWORK GOVERNING INDIGENOUS CREDIT OPERATIONS ADMINISTERED BY XARABANK.

PRELIMINARY TITLE

LEGAL DEFINITIONS, INSTITUTIONAL SCOPE, AND BINDING EFFECT

Article 1 — Purpose and Normative Effect

This Statute establishes the complete institutional, financial, contractual, fiduciary, administrative, accounting, security, recovery, and cross-border framework applicable to credit issued, funded, guaranteed, registered, serviced, or administered by XaraBank.

This Statute constitutes binding internal law for every organ, officer, committee, employee, agent, affiliate, contractor, borrower, guarantor, capital provider, and participating institution operating within a XaraBank credit program.

No credit product may be represented as an official XaraBank product unless it has been constituted, funded, documented, registered, and administered in accordance with this Statute and its implementing regulations.

No political declaration, honorary title, institutional relationship, customary affiliation, ecclesiastical position, or administrative communication shall replace the written credit agreement required under this Statute.

Article 2 — Institutional Definitions

For the purposes of this Statute:

“Bank” or “XaraBank” means the Indigenous Bank of Xaragua.

“Bureau” means the Bureau of Indigenous Credit, Housing Finance, and Secured Obligations.

“Credit Window” means one of the three financially and administratively separated credit regimes established under Title III.

“Beneficiary” means a person or juridical body approved to receive financing under a Credit Window.

“Borrower” means a beneficiary bound by an executed repayment obligation.

“Capital Provider” means a person or institution that provides capital to XaraBank under a numbered and registered capital agreement.

“Customary Contribution” means the single, disclosed, non-compounding contribution payable to the Indigenous Development Fund under an interest-free credit program.

“Commercial Return” means a contractually established financial return applicable exclusively to a commercial financing agreement or capital-provider agreement and not to an interest-free Indigenous Credit agreement.

“Guarantee” means a personal, communal, institutional, fiduciary, possessory, contractual, or proprietary mechanism securing performance of an obligation.

“Collateral” means an identified asset, right, receivable, deposit, or property interest legally capable of securing an obligation.

“Restricted Capital” means capital legally or contractually assigned to a designated Credit Window, portfolio, program, beneficiary class, or authorized purpose.

“Sovereign Credit Dossier” means the complete administrative and financial file required for credit evaluation and authorization.

“Internal Credit Register” means the official institutional system recording applications, approvals, agreements, guarantees, disbursements, payments, arrears, restructuring measures, and discharged obligations.

“Viaud’or” or “VDO” means the internal currency or unit of account designated by XaraBank for institutional accounting and eligible contractual operations.

Article 3 — Scope of Application

This Statute applies to:

a. Mini-house and residential-infrastructure financing;

b. Microcredit and family-enterprise financing;

c. Agricultural, artisanal, cooperative, and professional credit;

d. SME and enterprise financing;

e. Revolving credit margins;

f. Private-capital participation;

g. Guarantees and secured obligations;

h. Restructuring and recovery;

i. Digital credit administration;

j. Cross-border credit and capital agreements.

This Statute does not authorize the acceptance of deposits, public solicitation of investment, issuance of securities, payment services, foreign-exchange activity, or any regulated external financial operation unless separately authorized under the competent legal framework applicable to that activity.

Every externally performed financial operation shall remain subject to the mandatory requirements applicable in the jurisdiction where the operation, account, asset, contracting party, or enforcement measure is legally situated.

TITLE I

INSTITUTIONAL CONSTITUTION AND ADMINISTRATIVE AUTHORITY

Article 4 — Constitution of the Bureau

The Bureau is hereby constituted as the permanent specialized authority of XaraBank for the administration of Indigenous Credit, housing finance, microcredit, enterprise finance, private-capital participation, guarantees, portfolio control, restructuring, and recovery.

The Bureau shall exercise exclusive internal administrative competence over:

a. Registration and classification of applications;

b. Verification of eligibility;

c. Credit underwriting;

d. Program assignment;

e. Guarantee valuation and registration;

f. Preparation and execution of credit agreements;

g. Authorization and control of disbursements;

h. Monitoring of financed projects;

i. Payment administration;

j. Arrears management;

k. Restructuring;

l. Enforcement of security;

m. Private-capital administration;

n. Portfolio accounting and reporting.

Article 5 — Administrative Structure

The Bureau shall operate through the following permanent divisions:

Housing Credit Directorate;

Indigenous Microcredit Directorate;

Enterprise Finance Directorate;

Credit Underwriting and Fiduciary Review Directorate;

Collateral Valuation and Secured Obligations Directorate;

Private Capital and Restricted Funds Directorate;

Portfolio Supervision, Restructuring, and Recovery Directorate;

Financial Records, Data Protection, and Institutional Audit Directorate.

Article 6 — Competent Authorities

The Rector-President shall exercise supreme constitutional and policy authority over the general financial orientation of XaraBank.

The Governor of XaraBank shall exercise executive and administrative authority over implementation of this Statute.

The Director of the Bureau shall supervise credit operations and ensure institutional compliance.

The Internal Credit and Fiduciary Review Committee shall decide applications within delegated limits.

Transactions exceeding delegated limits, involving related parties, or creating exceptional portfolio exposure shall require enhanced authorization prescribed by implementing regulation.

No authority may direct approval of a credit operation contrary to underwriting requirements, available liquidity, capital restrictions, conflict-of-interest rules, or applicable mandatory law.

TITLE II

GOVERNING FINANCIAL PRINCIPLES

Article 7 — Fundamental Principles

Every operation governed by this Statute shall comply with the following binding principles:

Institutional solvency;

Preservation of capital;

Segregation of restricted funds;

Proportionality of financing;

Verified repayment capacity;

Adequacy and enforceability of guarantees;

Written disclosure of every charge;

Prohibition of undisclosed or retroactive fees;

Prevention of fraud and misappropriation;

Controlled portfolio concentration;

Protection of confidential financial information;

Documentary traceability;

Equal application of established eligibility standards;

Separation between institutional status and creditworthiness;

Compliance with governing contracts and applicable mandatory law.

Article 8 — Indigenous Credit Autonomy

XaraBank shall maintain an autonomous internal credit-assessment system.

No applicant shall be automatically required to possess or submit a commercial credit score issued by Equifax, TransUnion, Experian, or an equivalent external agency.

Absence of an external credit history shall not independently constitute a ground for refusal.

XaraBank shall nevertheless verify, through proportionate and documented procedures:

a. Identity;

b. Legal capacity;

c. Income or productive revenue;

d. Existing material obligations;

e. Repayment capacity;

f. Contractual history;

g. Business activity;

h. Ownership and value of guarantees;

i. Material fraud or insolvency indicators.

External credit information may be consulted only with lawful authority where:

a. The applicant has provided informed written consent;

b. The information is materially relevant to a cross-border transaction;

c. A participating capital provider lawfully requires the information;

d. Applicable mandatory law requires consultation or disclosure.

Article 9 — Prohibition of Automatic Entitlement

Citizenship, permanent residence, e-residence, institutional membership, ancestry, ecclesiastical position, public office, honorary rank, political status, or personal relationship shall not create an automatic entitlement to credit.

Every disbursement shall remain conditional upon:

a. Available program capital;

b. Complete documentation;

c. Positive underwriting;

d. Valid authorization;

e. Sufficient security or approved alternative risk protection;

f. Execution of the required contractual instruments.

Credit administered under this Statute is repayable institutional capital and shall not be classified as an unconditional grant unless expressly constituted as such under a separate instrument.

TITLE III

SUPREME THREE-WINDOW CREDIT ARCHITECTURE

Article 10 — Establishment of the Three Credit Windows

The official credit system of XaraBank shall consist exclusively of the following three operational windows:

WINDOW I — INDIGENOUS HOUSING CREDIT;

WINDOW II — INDIGENOUS MICROCREDIT AND XARAGUA CREDIT MARGIN;

WINDOW III — XARABANK ENTERPRISE FINANCE.

Each Credit Window shall constitute a separate administrative portfolio with distinct purposes, beneficiary classes, funding sources, financial conditions, risk limits, reserves, accounting records, and contractual instruments.

Article 11 — Mandatory Separation of Portfolios

Capital assigned to one Credit Window shall not be treated as unrestricted capital of another Credit Window.

Every Credit Window shall maintain:

a. A separate portfolio code;

b. A separate capital ledger;

c. A separate reserve account;

d. Separate receivable records;

e. Separate arrears and loss records;

f. Separate income and expenditure reporting;

g. Separate performance statistics.

No transfer of restricted capital between Credit Windows shall occur without:

a. Written authority under the original funding instrument;

b. Approval of the Governor of XaraBank;

c. Confirmation that the transfer will not impair existing beneficiaries or capital providers;

d. Recording in the National Register of Financial Commitments.

Housing funds shall not be used to finance commercial enterprise losses, investor returns, or unrelated institutional expenditure.

Microcredit reserves shall not be used to guarantee enterprise-finance obligations unless expressly authorized by the governing fund instrument.

Article 12 — Window I: Indigenous Housing Credit

Window I is established as the social and territorial housing-finance mechanism of XaraBank.

Window I shall finance:

a. Construction of mini-houses;

b. Acquisition of approved mini-houses;

c. Completion or rehabilitation of incomplete dwellings;

d. Structural repairs;

e. Water, sanitation, drainage, energy, and essential residential infrastructure;

f. Approved community housing developments;

g. Productive residential improvements directly supporting family stability.

Window I financing shall be issued without contractual interest to the beneficiary.

Window I may impose one non-compounding customary contribution calculated once upon the original financed amount and not exceeding the maximum established under Article 24.

Window I shall be financed primarily through:

a. Institutional housing allocations;

b. Contributions and endowments;

c. Faith-based and charitable capital;

d. Concessionary private capital;

e. Housing-development funds;

f. Repaid housing principal;

g. Publicly or privately sponsored housing programs lawfully accepted by XaraBank.

Window I shall not promise a commercial return to a capital provider unless a separate and identified source of payment has been legally assigned to that return.

Construction financing shall ordinarily be released by verified stages or paid directly to approved suppliers, builders, or service providers.

Article 13 — Window II: Indigenous Microcredit and Xaragua Credit Margin

Window II is established as the small-scale productive-credit mechanism of XaraBank.

Window II shall finance:

a. Family enterprises;

b. Agricultural production;

c. Fishing and food-processing activity;

d. Artisanal production;

e. Professional tools;

f. Small commercial inventory;

g. Cooperative activity;

h. Self-employment;

i. Essential business technology;

j. Verified emergency productive expenditure.

Window II shall administer the Xaragua Credit Margin, abbreviated “XCM,” as the official revolving microcredit facility.

Window II financing shall ordinarily be interest-free and may impose one non-compounding customary contribution.

Window II may rely upon proportionate non-asset security mechanisms, including:

a. Income assignment;

b. Family guarantee;

c. Group guarantee;

d. Cooperative guarantee;

e. Purchase-order financing;

f. Controlled disbursement;

g. Progressive credit limits;

h. Assignment of verified receivables.

Window II shall be financed through:

a. Microcredit allocations;

b. Cooperative capital pools;

c. Indigenous Development Fund allocations;

d. Concessionary private capital;

e. Repaid microcredit principal;

f. Customary contributions assigned to microcredit operations;

g. Program-specific endowments.

Article 14 — Window III: XaraBank Enterprise Finance

Window III is established as the commercial and development-finance mechanism for small and medium-sized enterprises, cooperatives of commercial scale, institutional ventures, infrastructure projects, and other approved productive undertakings.

Window III may finance:

a. Equipment acquisition;

b. Productive infrastructure;

c. Commercial inventory;

d. Working capital;

e. Expansion of established enterprises;

f. Agricultural processing;

g. Manufacturing;

h. Transportation and logistics;

i. Digital infrastructure;

j. Employment-generating institutional projects.

Window III may issue:

a. Secured term financing;

b. Commercial credit lines;

c. Equipment financing;

d. Revenue-based financing;

e. Purchase-order financing;

f. Contractually structured participation financing;

g. Other approved enterprise instruments.

Window III financing may carry a disclosed simple contractual return, fixed charge, or other lawful commercial consideration established before execution.

No commercial return shall be compounded unless expressly authorized under a separate regulation and clearly disclosed in the executed agreement.

Window III shall maintain complete financial separation from the interest-free housing and microcredit portfolios.

Enterprise borrowers shall not represent Window III financing as interest-free Indigenous Credit unless the specific agreement has been formally issued under an approved interest-free enterprise program.

Article 15 — Prohibition of Cross-Subsidization Without Authority

No officer shall use Window I or Window II capital to satisfy a commercial return owed under Window III.

No loss arising from an enterprise-finance portfolio shall be charged to a housing or microcredit reserve without prior legal authorization from the governing fund instrument and written approval of the competent authorities.

Administrative services shared by the three Credit Windows shall be allocated through a documented cost-allocation method.

Every annual financial statement shall disclose internal transfers, shared expenses, reserve movements, arrears, write-downs, and realized losses by Credit Window.

TITLE IV

ELIGIBILITY, PRIORITY, AND EXCLUDED USES

Article 16 — Eligible Applicants

Subject to the requirements of the applicable Credit Window, financing may be granted to:

Citizens of Xaragua;

Permanent residents registered by Xaragua;

Registered e-residents conducting an approved economic or institutional activity;

Families and household units admitted to a housing program;

Farmers, fishers, artisans, professionals, and self-employed persons;

Cooperatives and community associations;

Parishes, foundations, educational bodies, and recognized juridical persons;

Microenterprises and SMEs;

Approved institutional and territorial-development projects.

Article 17 — Priority Classification

Priority may be assigned according to:

Essential housing need;

Project readiness;

Demonstrated repayment capacity;

Employment creation;

Food production;

Territorial stabilization;

Family self-sufficiency;

Economic continuity;

Community benefit;

Availability of program-specific capital;

Adequacy of guarantees;

Previous satisfactory performance with XaraBank.

Article 18 — Excluded Transactions

Financing shall not be authorized for:

Fictitious, unverifiable, or materially misleading projects;

Unapproved speculative activity;

Activities prohibited by applicable law;

Personal diversion of restricted housing or enterprise funds;

Concealed refinancing of undisclosed liabilities;

Transactions based upon forged identity, income, title, collateral, invoice, endorsement, or corporate records;

Transactions involving an undisclosed conflict of interest;

Acquisition of assets from a related party without enhanced valuation and approval;

Any purpose inconsistent with the governing Credit Window.

TITLE V

SOVEREIGN CREDIT DOSSIER AND INTERNAL UNDERWRITING

Article 19 — Mandatory Credit Dossier

Every application shall be supported by a Sovereign Credit Dossier containing, as applicable:

Verified identity;

Proof of institutional status;

Legal-capacity documentation;

Statement of financing purpose;

Requested amount;

Proposed term;

Income, revenue, or cash-flow information;

Existing material obligations;

Repayment projection;

Construction plan, business plan, budget, quotation, invoice, or procurement schedule;

Guarantee documentation;

Conflict-of-interest declaration;

Authorization for required verification;

Written acknowledgement of the applicable Credit Window;

Signed acknowledgement of repayment obligations.

Article 20 — Underwriting Standards

The Bureau shall assess:

Authenticity of documents;

Legality and feasibility of the proposed use;

Repayment capacity;

Stability and source of income;

Business or project viability;

Prior contractual performance;

Existing obligations;

Adequacy and realizable value of guarantees;

Requested term;

Proposed payment schedule;

Portfolio concentration;

Exposure to currency, operational, legal, and collateral risk;

Any material circumstance affecting performance.

Article 21 — Review and Decision

The Internal Credit and Fiduciary Review Committee shall issue one of the following determinations:

a. Approval;

b. Conditional approval;

c. Referral for additional documentation;

d. Approval at a reduced amount;

e. Assignment to another Credit Window;

f. Deferral for lack of available capital;

g. Refusal.

Every determination shall be recorded.

Refusal shall not create an entitlement to damages, disbursement, or automatic reconsideration.

A materially changed application may be resubmitted in accordance with Bureau procedure.

Article 22 — Conflicts of Interest and Related Parties

Any officer having a personal, familial, political, ecclesiastical, institutional, or financial interest in an application shall disclose that interest and withdraw from evaluation and decision.

Related-party financing shall require:

a. Independent underwriting;

b. Enhanced documentation;

c. Separate approval;

d. Recorded justification;

e. Terms no more favorable than those authorized for the applicable program, unless a lawful public-purpose subsidy has been expressly established.

TITLE VI

FINANCIAL CONDITIONS, CONTRIBUTIONS, AND CHARGES

Article 23 — Interest-Free Credit Classification

Window I financing shall be interest-free unless a separate housing instrument expressly establishes otherwise.

Window II financing shall ordinarily be interest-free.

Under an interest-free agreement:

a. No contractual interest shall accrue;

b. No compound interest shall apply;

c. No monthly percentage charge shall be imposed as disguised interest;

d. The borrower shall remain liable for principal, the customary contribution, disclosed third-party expenses, and lawful recovery expenses arising from default.

Every payable amount shall be stated in the agreement before execution.

Article 24 — Customary Contribution

A single customary contribution may be imposed under Window I or Window II.

The contribution shall:

a. Be established before execution;

b. Be calculated once upon the original principal or financed amount;

c. Not exceed eight percent of the original principal;

d. Not compound;

e. Not recur monthly;

f. Not increase solely because the agreed term continues;

g. Be separately identified from principal and third-party expenses.

The contribution may be:

a. Paid at execution;

b. Deducted from disbursement with written consent;

c. Incorporated into the scheduled payments.

Customary contributions shall be allocated by regulation among:

a. Portfolio administration;

b. Credit-loss reserves;

c. Financial education;

d. Future housing or microcredit operations;

e. Authorized institutional expenses directly connected to the credit system.

Article 25 — Commercial Terms Under Window III

Every commercial charge, return, participation, or financing cost shall be stated in:

a. A fixed amount;

b. A simple annual percentage;

c. A defined revenue-participation formula;

d. Another objectively calculable contractual method.

The agreement shall disclose:

a. Principal;

b. Total financing cost;

c. Payment schedule;

d. Maturity;

e. Default consequences;

f. Security;

g. Early-payment conditions;

h. Maximum contractual liability, where calculable.

Window III revenue shall be assigned first in accordance with:

a. Contractual payment obligations;

b. Required reserves;

c. Portfolio administration;

d. Capital preservation;

e. Authorized institutional allocation.

Article 26 — Third-Party Expenses

Notarial, registration, valuation, insurance, filing, transfer, inspection, or security-perfection expenses may be charged where necessary.

Every third-party expense shall be disclosed or reasonably estimated before execution.

XaraBank shall not add an undisclosed institutional surcharge to a third-party expense.

Any change in estimated expense shall be communicated before the borrower becomes contractually bound to the increased amount.

TITLE VII

CAPITALIZATION, RESTRICTED FUNDS, AND PRIVATE CAPITAL PROVIDERS

Article 27 — Authorized Capital Sources

XaraBank may capitalize the Credit Windows through:

Institutional reserves;

Indigenous Development Fund allocations;

Housing funds;

Microcredit funds;

Enterprise-finance funds;

Contributions and endowments;

Faith-based or charitable capital;

Cooperative capital pools;

Private-capital agreements;

Program-specific participation agreements;

Repayments of principal;

Lawfully assigned institutional revenue.

Article 28 — Qualification of Capital Providers

A private person or institution shall be admitted as an Authorized Capital Provider only after:

Identity verification;

Verification of legal capacity;

Verification of source and lawful ownership of funds;

Risk disclosure;

Written acceptance by XaraBank;

Execution of a numbered capital agreement;

Designation of the receiving Credit Window;

Registration in the National Register of Financial Commitments.

Article 29 — Mandatory Content of Capital Agreements

Every capital agreement shall specify:

Identity and capacity of the parties;

Principal contributed;

Currency or unit of account;

Designated Credit Window;

Permitted use;

Term;

Return, if any;

Source of contractual return;

Payment priority;

Security, if any;

Risk of delay or loss;

Reporting rights;

Confidentiality obligations;

Governing law;

Dispute-resolution procedure;

Events of default;

Termination rights;

Recovery procedure;

Conditions governing any transfer between portfolios.

Article 30 — Capital Segregation

Restricted capital shall be separately recorded.

Capital assigned to housing, microcredit, or enterprise finance shall not be diverted to an unrelated purpose without written contractual authority.

The Bank shall maintain records identifying:

a. Capital received;

b. Portfolio assignment;

c. Amounts deployed;

d. Outstanding principal;

e. Payments received;

f. Arrears;

g. Realized losses;

h. Reserves;

i. Amounts payable to capital providers.

Article 31 — Prohibition of Unfunded Guarantees

No officer shall represent that contributed capital is absolutely risk-free unless the obligation is fully secured by specifically identified and legally enforceable assets or an independently verified guarantee.

No return shall be promised unless XaraBank has identified and approved a lawful source of payment.

No capital agreement shall impose obligations exceeding the authorized financial capacity of the Bank.

Every capital provider shall receive disclosure of material:

a. Credit risk;

b. Liquidity risk;

c. Currency risk;

d. Collateral risk;

e. Enforcement risk;

f. Cross-border legal risk;

g. Force-majeure risk;

h. Portfolio subordination.

Article 32 — Institutional Status of Capital Providers

An Authorized Capital Provider shall be recognized as a protected contractual participant in the financial development system of Xaragua.

Such recognition shall not automatically confer:

a. Citizenship;

b. Diplomatic status;

c. Jurisdictional immunity;

d. Tax exemption;

e. Ecclesiastical office;

f. Public authority;

g. Ownership of XaraBank;

h. Control over credit decisions.

Exceptional capital providers may receive an honorary institutional distinction by act of the Rector-President without alteration of contractual rights or public authority.

TITLE VIII

GUARANTEES, COLLATERAL, AND SECURITY REGISTRATION

Article 33 — Principle of Proportional Security

Every credit operation shall contain a repayment-security structure proportionate to:

a. Amount;

b. Term;

c. Purpose;

d. Repayment capacity;

e. Credit Window;

f. Identified risk.

Low-value credit may be secured through non-asset mechanisms approved under Window II.

High-value housing and enterprise financing shall ordinarily require registered collateral, verified receivables, institutional guarantees, or another enforceable security structure.

Article 34 — Authorized Forms of Security

Subject to verification and applicable law, security may include:

Registered land;

Legally transferable interests in land;

Buildings and improvements;

Equipment;

Vehicles;

Inventory;

Deposits or Viaud’or balances;

Assignment of income or receivables;

Purchase contracts;

Agricultural production;

Family, communal, cooperative, professional, or institutional guarantees;

Insurance or surety;

Intellectual-property or commercial rights capable of lawful valuation and transfer;

Any other enforceable security approved by the Bureau.

Article 35 — Verification and Valuation

No guarantee shall be accepted without reasonable verification of:

a. Ownership;

b. Authority;

c. Legal validity;

d. Transferability;

e. Existing liens;

f. Priority;

g. Realizable value;

h. Enforcement procedure.

XaraBank may apply a prudential discount to estimated value.

Valuation shall be conducted independently where:

a. The asset is material to approval;

b. The transaction involves a related party;

c. Ownership or market value is disputed;

d. The exposure exceeds the internal valuation threshold.

Article 36 — Internal and External Registration

Every guarantee shall be recorded in the Internal Register of Credit Guarantees.

Where external enforceability requires notarization, registration, filing, possession, notice, consent, or perfection, the required act shall be completed before or as a condition of disbursement.

Internal registration shall establish institutional recognition within XaraBank but shall not replace a legally mandatory external formality.

Article 37 — Invalid Security

XaraBank shall reject:

Assets not legally owned or controlled by the guarantor;

Unverifiable or non-transferable interests;

Grossly inflated valuations;

Assets already encumbered beyond realizable value;

Forged titles, invoices, endorsements, or certificates;

Communal or ecclesiastical property offered without competent authorization;

Security whose creation or enforcement would violate applicable law;

Security incapable of being identified with sufficient precision.

Article 38 — Release of Security

Upon complete discharge of the secured obligation, XaraBank shall:

Update the Internal Credit Register;

Issue written confirmation of discharge;

Return deposited property or documentation;

Execute required releases or cancellations;

Preserve only the records required for institutional, contractual, accounting, or legal archiving.

TITLE IX

DISBURSEMENT, PORTFOLIO CONTROL, AND PROJECT SUPERVISION

Article 39 — Conditions Precedent to Disbursement

No disbursement shall occur before:

Final approval;

Execution of the credit agreement;

Completion of required security;

Verification of program liquidity;

Confirmation of portfolio assignment;

Satisfaction of required contributions or expenses;

Completion of any mandatory registration;

Confirmation that no material adverse information has invalidated the approval.

Article 40 — Controlled Disbursement

XaraBank may:

Pay an approved supplier directly;

Release construction funds by verified stage;

Require invoices and receipts;

Conduct physical or digital verification;

Restrict use to the approved purpose;

Suspend undisbursed amounts following material misuse, fraud, breach, or deterioration of repayment capacity.

Article 41 — Housing Disbursement Protocol

Window I financing may be divided into:

Land and title verification;

Project and budget approval;

Foundation tranche;

Structural tranche;

Roofing and enclosure tranche;

Water, sanitation, and energy tranche;

Completion tranche.

Each subsequent tranche may be conditioned upon verification of the preceding stage.

Article 42 — Enterprise and Microcredit Monitoring

A borrower may be required to submit:

Proof of purchase;

Inventory records;

Production information;

Revenue statements;

Contract-performance records;

Project-completion evidence;

Updated guarantee information;

Any report expressly required by the credit agreement.

Monitoring requirements shall remain proportionate to the amount and nature of the transaction.

TITLE X

XARAGUA CREDIT MARGIN

Article 43 — Establishment and Classification

The Xaragua Credit Margin, abbreviated “XCM,” is established exclusively within Window II.

The XCM constitutes a renewable and controlled internal microcredit facility.

The XCM shall not be used as the general financing instrument for mini-house construction or commercial SME financing.

Article 44 — Authorized Limits

An approved XCM limit may range from 100 to 5,000 VDO.

The authorized limit shall depend upon:

a. Repayment capacity;

b. Prior performance;

c. Guarantee structure;

d. Approved purpose;

e. Available Window II liquidity.

Approval of a maximum limit shall not require immediate or complete disbursement.

Each draw may remain subject to verification of continuing eligibility.

Article 45 — Term and Renewal

Individual XCM advances may carry terms from thirty to three hundred sixty-five days.

Renewal shall require:

a. Satisfactory performance;

b. Updated information where required;

c. Continuing validity of guarantees;

d. Available liquidity;

e. Formal authorization.

Renewal shall not be automatic.

Article 46 — XCM Financial Conditions

The XCM shall bear no compound interest.

Under its interest-free classification, the borrower may be charged only:

a. Principal;

b. The single customary contribution;

c. Disclosed third-party expenses;

d. Lawful and contractually authorized recovery expenses resulting from default.

A recurring monthly percentage charge shall not be imposed under the interest-free XCM classification.

TITLE XI

CONFIDENTIALITY, RECORDS, AUDIT, AND DATA GOVERNANCE

Article 47 — Protected Financial Information

XaraBank shall protect:

Applicant identities;

Capital-provider identities;

Account information;

Credit dossiers;

Contract terms;

Collateral records;

Repayment histories;

Internal risk classifications;

Commercial information;

Proprietary financial data.

Article 48 — Authorized Disclosure

Protected information may be disclosed only:

With written consent;

To authorized XaraBank personnel performing official functions;

To auditors, legal counsel, valuers, insurers, notaries, registrars, arbitrators, courts, or enforcement officers where necessary;

For enforcement or defense of a contractual right;

To comply with applicable mandatory law or a valid legal order;

To prevent or investigate fraud, misappropriation, or material institutional loss;

In anonymized or aggregated institutional reports.

Article 49 — Internal Audit

Every Credit Window shall be subject to periodic internal financial, portfolio, and compliance review.

Internal audit shall verify:

a. Capital assignment;

b. Disbursement authorization;

c. Contract completeness;

d. Guarantee registration;

e. Payment recording;

f. Reserve adequacy;

g. Arrears classification;

h. Related-party compliance;

i. Data protection;

j. Cross-window transfers.

Material irregularities shall be reported to the Governor and the competent supervisory authority.

Article 50 — External Verification

Capital providers shall receive the reporting and verification rights established by contract.

Where a transaction is legally connected to another jurisdiction, XaraBank shall comply with applicable registration, disclosure, audit, taxation, reporting, or enforcement requirements.

Confidentiality shall not invalidate a legally binding disclosure obligation.

TITLE XII

DEFAULT, RESTRUCTURING, AND RECOVERY

Article 51 — Events of Default

An event of default may arise from:

Failure to pay after expiration of the contractual cure period;

Material misrepresentation;

Fraudulent documentation;

Unauthorized disposal of collateral;

Diversion of restricted funds;

Material violation of an approved-use condition;

Insolvency materially affecting performance;

Refusal to provide a contractually required report;

Destruction, concealment, or impairment of collateral;

Any additional event expressly defined in the agreement.

Article 52 — Graduated Recovery Procedure

Where practicable, XaraBank shall apply:

Formal administrative notice;

Verification of the breach;

Contractual cure period;

Restructuring assessment;

Mediation or negotiated settlement;

Activation of guarantees;

Internal adjudication where legally sufficient;

Arbitration or judicial enforcement where required.

Article 53 — Restructuring

XaraBank may authorize:

Revised payment schedules;

Temporary deferment;

Extension of maturity;

Partial restructuring;

Additional security;

Voluntary transfer of collateral;

Negotiated settlement.

No restructuring shall be automatic or granted where fraud, concealment, or deliberate dissipation of collateral has been established.

Article 54 — Institutional Consequences

A borrower in unresolved default may be subject to:

Suspension of further credit;

Cancellation of an unused credit limit;

Internal delinquency classification;

Enforcement of guarantees;

Recovery proceedings;

Exclusion from specified financial programs until regularization.

Default shall not independently authorize deprivation of citizenship, unrelated academic rights, religious sacraments, or public humiliation.

Article 55 — Enforcement of Collateral

Collateral shall be enforced according to:

a. The executed security instrument;

b. The governing law of the asset;

c. Applicable registration and priority rules;

d. Required judicial, notarial, administrative, arbitral, or private-sale procedure.

No asset shall be seized, transferred, or liquidated solely by institutional declaration where external law requires an additional procedure.

TITLE XIII

INTERNAL LAW, CROSS-BORDER CONTRACTS, AND DISPUTE RESOLUTION

Article 56 — Internal Governing Framework

As an internal institutional matter, every XaraBank credit operation shall be administered under:

The Constitution of Xaragua;

The Financial Code of Xaragua;

This Statute;

Implementing regulations of XaraBank;

Applicable Indigenous customary law;

The executed contract.

Article 57 — Mandatory External Law

Where a party, asset, bank account, security, notarial act, contractual performance, or enforcement measure is legally situated within another jurisdiction, the mandatory law of that jurisdiction shall apply to the extent legally required.

The internal authority of XaraBank shall govern institutional authorization, portfolio classification, internal registration, and administration.

External recognition, registration, priority, seizure, enforcement, taxation, or regulatory treatment shall be determined by the competent legal framework applicable to the transaction.

Article 58 — Governing-Law and Forum Clauses

Every cross-border contract shall identify:

Governing substantive law;

Competent forum;

Address for notices;

Language of proceedings;

Service procedure;

Interim-measure authority;

Enforcement jurisdiction;

Any agreed arbitration mechanism.

Article 59 — Arbitration

Commercial and cross-border agreements may provide for arbitration by express written consent.

The arbitration clause shall identify:

a. Institutional or ad hoc rules;

b. Seat of arbitration;

c. Number of arbitrators;

d. Language;

e. Governing law;

f. Cost allocation;

g. Courts competent for interim measures and enforcement.

An arbitral award may be presented for recognition and enforcement before a competent jurisdiction according to applicable law.

Arbitration shall not be represented as mandatory or available unless validly accepted by the contracting parties.

Article 60 — Limitation Periods

No universal limitation period is created for all XaraBank claims.

The applicable period shall be determined by:

a. Governing law;

b. Nature of the claim;

c. Enforcement jurisdiction;

d. Valid contractual interruption or suspension provisions.

The Bureau shall maintain a limitation-control register.

TITLE XIV

INSTITUTIONAL PROTECTION OF THE XARAGUA CREDIT SYSTEM

Article 61 — Protected Institutional Assets

The following shall constitute protected institutional assets to the extent recognized by applicable law:

XaraBank names and marks;

Official seals and identifiers;

Original contractual templates;

Credit manuals;

Internal underwriting systems;

Proprietary digital infrastructure;

Confidential databases;

Original publications and training materials;

Non-public procedures;

Internal portfolio information.

Article 62 — Prohibited Acts

No person shall, without authorization:

Represent affiliation with XaraBank;

Issue documents bearing official XaraBank seals;

Impersonate an authorized Credit Window;

Market a product as guaranteed by Xaragua;

Obtain confidential operational material through fraud or breach of duty;

Reproduce protected institutional documents in violation of applicable rights;

Misrepresent an independent credit program as an official XaraBank operation.

Article 63 — Institutional Remedies

XaraBank may undertake:

Administrative notice;

Correction or attribution demand;

Contractual enforcement;

Protection of trademarks, copyright, confidential information, and proprietary systems;

Fraud or misrepresentation proceedings;

Notification to competent registries, platforms, tribunals, or authorities.

General concepts of community finance, Indigenous economic development, microcredit, housing credit, or interest-free lending shall not be classified as exclusive property merely because comparable principles are employed by XaraBank.

TITLE XV

FINAL, TRANSITIONAL, AND IMPLEMENTING PROVISIONS

Article 64 — Supersession

This Statute supersedes every prior doctrine, policy, annex, regulation, proclamation, or administrative provision of May 19, 2025 that is incompatible with its terms.

Article 65 — Existing Contracts

Existing contracts shall remain governed by their executed terms unless lawfully amended.

The Bureau shall review existing contracts concerning:

a. Credit Window classification;

b. Interest and charges;

c. Customary contributions;

d. Guarantees;

e. Capital segregation;

f. Confidentiality;

g. Dispute resolution;

h. External enforceability;

i. Unfunded guarantees.

No vested contractual right shall be retroactively altered without the consent or authority required by the governing law.

Article 66 — Implementation Authority

The Governor of XaraBank may issue regulations concerning:

Credit limits;

Customary-contribution rates;

Commercial financing rates;

Portfolio reserves;

Capital-adequacy thresholds;

Underwriting standards;

Collateral valuation;

Committee procedures;

Financial disclosure;

Default management;

Data protection;

Capital-provider reporting;

Portfolio concentration;

Credit Window accounting.

No implementing regulation may contradict this Statute or merge the three Credit Windows contrary to Title III.

Article 67 — Annual Institutional Review

XaraBank shall conduct an annual review of:

a. Capital availability;

b. Credit issued;

c. Principal recovered;

d. Customary contributions collected;

e. Commercial revenue;

f. Administrative expenditure;

g. Arrears;

h. Defaults;

i. Realized losses;

j. Reserve adequacy;

k. Portfolio concentration;

l. Social and economic outcomes.

The review shall separately report Window I, Window II, and Window III.

Article 68 — Controlling Interpretation

This Statute shall be interpreted to preserve:

Indigenous financial autonomy;

Institutional solvency;

Capital segregation;

Protection of housing and microcredit funds;

Contractual discipline;

Transparent charges;

Proportional guarantees;

Rights of borrowers, guarantors, and capital providers;

External enforceability where legally available;

Economic development of the people and institutions of Xaragua.

Article 69 — Severability

If any provision is determined to be invalid, unenforceable, or inapplicable within a competent external jurisdiction, the remaining provisions shall continue to govern the internal administration of XaraBank to the maximum extent permitted.

Article 70 — Entry into Force

This Supreme Consolidated Financial Statute shall enter into force immediately upon:

Signature by the Rector-President;

Countersignature or administrative registration by the Governor of XaraBank;

Entry in the Official Financial Archive;

Publication through the authorized institutional channel of Xaragua.

SIGNED:

PASCAL DESPUZEAU DAUMEC VIAU

PRELATE-FOUNDER AND RECTOR-PRESIDENT

SOVEREIGN CATHOLIC INDIGENOUS AND PRIVATE STATE OF XARAGUA

COUNTERSIGNED FOR ADMINISTRATIVE EXECUTION:

GOVERNOR OF THE INDIGENOUS BANK OF XARAGUA — XARABANK

REGISTERED BY: