Skip to content
Lanbuk — Pat in Learning

Bank of Sierra Leone Act, 2000

An Act restating the establishment, functions and powers of the Bank of Sierra Leone as the central bank.

PDF · 2.5 MBActs2000

Summary

The Bank of Sierra Leone Act, 2000 restated the law establishing the Bank of Sierra Leone and defining its role as the central bank. It provided for the Bank's objectives — principally monetary stability — its governance, and its powers over currency, monetary policy and the banking system.

The Act set out the Bank's capital and reserves, the appointment and functions of its Governor and Board, its role as banker to the Government, and its supervisory relationship with banks. It was subsequently replaced by the Bank of Sierra Leone Act, 2011, and later the Act of 2019.

Main provisions

  • Establishes the Bank of Sierra Leone and states its objectives and functions.
  • Provides for the Bank's governance, including the Governor and Board.
  • Confers powers over currency issue and monetary policy.
  • Provides for the Bank as banker and adviser to the Government.
  • Provides for supervision of the banking system (later superseded by the 2011 and 2019 Acts).