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The Bank is engaged in policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion (AFI). [2] On 20 December 2012, the member institution announced specific commitments [ 3 ] toward AFI's Maya Declaration to move further toward the eradication of financial exclusion in Sierra Leone.
This is a list of commercial banks in Sierra Leone, as updated in October 2024 by the Bank of Sierra Leone. [1] List of commercial banks
The Civil War destroyed many of the branches of the country's commercial banks and as of 2005 there were 34 commercial bank branches, the majority in the major towns. [2] Procedures for obtaining loans have been assessed as very complicated and there is a relatively low ratio of private credit to GDP at just over 4 percent.
The bank is named after the Rokel River, the longest river in Sierra Leone. RCB serves members of the public, small and medium enterprises (SMEs), as well as large corporations. According to the bank's web site, it one of the three largest commercial banks in the country by assets. [2]
The bank, according to its website, is the only privately owned indigenous commercial bank in the country, as of May 2017. [3] As of December 2015, the bank's total assets were valued at SLL:361.817 billion (approximately US$48.6 million), with shareholders' equity of SLL: 58.162 billion (approximately US$7.811 million).
Sierra Leone Commercial Bank; U. Union Trust Bank This page was last edited on 18 January 2020, at 21:13 (UTC). Text is available under the Creative Commons ...
The central bank of the country is the Bank of Sierra Leone which is in the capital, Freetown. The country operates a floating exchange rate system, and foreign currencies can be exchanged at any of the commercial banks, recognized foreign exchange bureaux and most hotels.
The diamond is now in a safe at the Bank of Sierra Leone, Sierra Leone's central bank in Freetown. [4] By April 5, 2017, there had only been six offers for the diamond. In response, the deadline was extended to May 10. [1] The diamond was bought by Graff Diamonds in December 2017 for $6.5M USD via auction. [6]