Regulatory Alerts2011-07-01
Added · Updated
Operating Guidelines for Finance Leasing Institutions
The Bank of Sierra Leone has issued operating guidelines establishing licensing criteria, financial obligations, and governance standards for finance leasing institutions. The regulations mandate a minimum paid-up capital of two billion Leones, require detailed business plans and risk management frameworks, and enforce prudential limits on single-person exposure, total liabilities, and asset provisioning. Licensed entities must maintain fit-and-proper directors, submit quarterly and annual financial reports, display their licenses and interest rates, and restrict operations to approved finance leasing activities.
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