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Bank of Sierra Leone |
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Bank of Sierra Leone
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The Bank of Sierra Leone is
the central bank of Sierra Leone. It issues the country's currency, known as
the Leone. The bank formulates and implements monetary policy, including
foreign exchange. On 27th March, 1963, the Bank of Sierra Leone Act became
law and the Bank began operation on 4th August, 1964, the day Sierra Leone
changed to the decimal system of currency. |
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The Bank of Sierra Leone is a
body corporate and is fully state-owned. The head office of the Bank is
located at Siaka Stevens Street in the Central business district in Downtown
Freetown.
The objectives of Bank of Sierra Leone as spelt
out in the Bank of Sierra Leone Act 2000 are :-
• The promotion of monetary stability and a sound financial structure;
• The maintenance of the internal and external values of the Leone; |
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• The promotion of credit and exchange conditions conducive to the
balanced growth of the economy;
• The issuing and distribution of notes and currency in the country;
• The formulation and implementation of monetary policy;
• Banker and adviser to the Government in financial and economic matters;
• The managing of domestic as well as foreign debt;
• Acting as custodian of the country's reserve of approved foreign
exchange;
• Acting as banker to the Commercial Banks;
• The supervision and regulation of the activities of commercial banks and
other financial institutions; and
• The administration of the operations of Structural Adjustment Programs
where the bank has specific responsibilities.
In achieving the functions as mentioned above, the Bank commits itself to
providing effective support functions through a sound banking and financial
control system, appropriate information system and the development of
competent and qualified staff. |
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Bank of Sierra Leone |
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HQ
Address: |
Siaka Stevens Street
Freetown, Western Area
Sierra Leone |
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Tel: |
+232 22 226 501 |
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Fax: |
+232 22 224 764 |
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Website: |
www.bsl.gov.sl |
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Swift Code: |
BSLESLFR |
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Currency: |
Leone |
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Banking Hours: |
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Monday - Friday : 8.00am -
2.00pm |
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Bank of Sierra Leone was also given the
responsibility of establishing the discount rate and intervening to control
interest rates. |
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List of banks governed by the Bank of Sierra
Leone |
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» Access Bank |
» Ecobank |
» First International Bank |
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» Guaranty Trust Bank |
» International Commercial Bank |
» Marampa Masimera Community Bank |
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» Mattru Community Bank |
» ProCredit Bank |
» Rokel Commercial Bank |
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» Segbwema Community Bank |
» Sierra Leone Commercial Bank |
» Skye Bank Sierra Leone |
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» Standard Chartered Bank |
» Union Trust Bank |
» United Bank for Africa |
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» Yoni Community Bank |
» Zenith Bank Sierra Leone |
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