Technical Assistance for Banking & Financial Services - Sierra Leone

The advisors are assisting the Bank of Sierra Leone (BSL) in implementing their strategy for increasing access to financial services while promoting strong prudential oversight of the financial sector and enhancing financial sector stability.

Project components will focus on: (1) implementing key elements of the GoSLs National Strategy for Financial Inclusion (NSFI); (2) developing recommendations to resolve problem financial institutions; (3) establishing a deposit insurance regime that protects depositors in the case of bank failures and maintains public confidence in the financial sector; (4) enhancing the financial sector legal and regulatory framework to improve BSL oversight; (5) strengthening the capacity of BSL non-bank supervision staff to adequately regulate and supervise the NBFI sector; (6) enhancing financial sector compliance with International Financial Reporting Standards (IFRS); and (7) developing sound IT policies, procedures, and cybersecurity standards to enhance security of the BSL's IT infrastructure and information assets.