Artikel XI

Section 1. Scope of Article
To enable the Bank to fulfill its purpose and the functions with which it is entrusted, the status, immunities, and privileges set forth in this article shall be accorded to the Bank in the territories of each member.
Section 2. Legal Status
The Bank shall possess juridical personality and, in particular, full capacity:
(a) to contract;
(b) to acquire and dispose of immovable and movable property; and
(c) to institute legal proceedings.
Section 3. Judicial Proceedings
Actions may be brought against the Bank only in a court of competent jurisdiction in the territories of a member in which the Bank has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities.
No action shall be brought against the Bank by members or persons acting for or deriving claims from members. However, member countries shall have recourse to such special procedures to settle controversies between the Bank and its members as may be prescribed in this Agreement, in the by-laws and regulations of the Bank or in contracts entered into with the Bank.
Property and assets of the Bank shall, wheresoever located and by whomsoever held, be immune from all forms of seizure, attachment or execution before the delivery of final judgment against the Bank.
Section 4. Immunity of Assets
Property and assets of the Bank, wheresoever located and by whomsoever held, shall be considered public international property and shall be immune from search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or legislative action.
Section 5. Inviolability of Archives
The archives of the Bank shall be inviolable.
Section 6. Freedom of Assets from Restrictions
To the extent necessary to carry out the purpose and functions of the Bank and to conduct its operations in accordance with this Agreement, all property and other assets of the Bank shall be free from restrictions, controls and moratoria of any nature, except as may otherwise be provided in this Agreement.
Section 7. Privilege for Communications
The official communications of the Bank shall be accorded by each member the same treatment that it accords to the official communications of other members.
Section 8. Personal Immunities and Privileges
All governors, executive directors, alternates, officers, and employees of the Bank shall have the following privileges and immunities:
(a) Immunity from legal process with respect to acts performed by them in their official capacity, except when the Bank waives this immunity.
(b) When not local nationals, the same immunities from immigration restrictions, alien registration requirements and national service obligations and the same facilities as regards exchange provisions as are accorded by members to the representatives, officials, and employees of comparable rank of other members.
(c) The same privileges in respect of travelling facilities as are accorded by members to representatives, officials, and employees of comparable rank of other members.
Section 9. Immunities from Taxation
(a) The Bank, its property, other assets, income, and the operations and transactions it carries out pursuant to this Agreement, shall be immune from all taxation and from all customs duties. The Bank shall also be immune from any obligation relating to the payment, withholding or collection of any tax, or duty.
(b) No tax shall be levied on or in respect of salaries and emoluments paid by the Bank to executive directors, alternates, officials or employees of the Bank who are not local citizens or other local nationals.
(c) No tax of any kind shall be levied on any obligation or security issued by the Bank, including any dividend or interest thereon, by whomsoever held: (i) which discriminates against such obligation or security solely because it is issued by the Bank; or
(ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Bank.
(i) which discriminates against such obligation or security solely because it is issued by the Bank; or
(ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Bank.
(d) No tax of any kind shall be levied on any obligation or security guaranteed by the Bank, including any dividend or interest hereon, by whomsoever held: (i) which discriminates against such obligation or security solely because it is guaranteed by the Bank or;
(ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Bank.
(i) which discriminates against such obligation or security solely because it is guaranteed by the Bank or;
(ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Bank.
Section 10. Implementation
Each member, in accordance with its juridical system, shall take such action as is necessary to make effective in its own territories the principles set forth in this article, and shall inform the Bank of the action which it has taken on the matter.