The Certificate of Membership shall authorize the Company to: (a) carry out credit transactions (in particular in relation to consumer loans or mortgages, factoring, commercial financing or financial leasing); (b) provide services related to payment transactions, in particular by carrying out electronic transfers on behalf of other persons, or who issue or manage means of payment such as credit cards and travelers’ cheques; (Companies that wish to carry out Money Transfers will take considerably more work and funds) (c) trade for their own account or for the account of others in banknotes and coins, money market instruments, foreign exchange, precious metals, commodities and securities (stocks and shares and value rights) as well as their derivatives; (d) manage assets (on a discretionary or non-discretionary basis); (e) make investments as investment advisers; and (f) hold securities on deposit or manage securities. Contact for further information.