Regulatory Alerts2001-01-01
Added · Updated
Other Financial Services Act 2001
Enacted by the President and Parliament of Sierra Leone, this Act establishes a comprehensive licensing and supervisory framework administered by the Central Bank for all non-bank financial institutions. It mandates that entities conducting deposit-taking, credit services, leasing, or other financial activities obtain and maintain valid licenses while meeting specified capital, liquidity, and governance standards. The Central Bank is empowered to examine operations, revoke or restrict licenses for non-compliance, enforce penalties, and oversee audits to ensure prudent business conduct and protect public depositors.
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