Regulatory Alerts2011-01-01
Bank of Sierra Leone Act 2011
Enacted by the President and Parliament of Sierra Leone, this legislation establishes the Bank of Sierra Leone as an autonomous central bank mandated to maintain price stability and implement monetary policy. The Act defines the Bank’s corporate status, capital structure, and governance framework by creating a Board of Directors and granting the Governor authority to regulate financial institutions, manage currency issuance, and oversee payment systems. It further codifies foreign exchange operations, financial reporting standards, and enforcement powers while repealing prior legislation to consolidate central banking functions under a unified legal framework.
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