Regulatory Alerts2019-01-01
The Borrowers and Lenders Act, 2019
The President and Members of Parliament of Sierra Leone enacted the Borrowers and Lenders Act, 2019 to repeal and replace the 2014 legislation. The updated framework expands the Collateral Registry to encompass encumbrances on immovable assets and permits unlicensed lenders outside Bank of Sierra Leone supervision to register security interests. These amendments modernize credit registration processes and broaden access to formal lending mechanisms across the country.
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