Section 5, THE BANK OF SIERRA LEONE ACT 2019

(1) The objective of the Bank shall be to- (a) issue and manage the currency of Sierra Leone. (b) achieve and maintain price stability. (c) contribute to fostering and maintaining a stable financial system; and (d) support the general economic policy of the (2) In the exercise of its functions under this Act, the Bank shall - (a) formulate and implement monetary policy financial regulations and prudent standards; (b) act as banker , adviser and fiscal agent of the Government; (c) formulate and implement the foreign exchange policy of Sierra Leone; (d) conduct foreign exchange operations; (e) own, hold and maintain the official international reserves including the gold reserves; (f) establish , promote, license and oversee sound and efficient payment and securities settlement systems and clearing systems; (g) license, register, regulate and supervise financial institutions as specified in this Act or any other law; (h) adopt and implement macro-prudential policy measures by regulations or guidelines; 2 3 Interpretation. Application. Continuation of Bank of Sierra Leone. Autonomy of Objective and functions. (i) resolve financial institutions in accordance with the Banking Act, 2019; (j) act as a depository for funds from international organisations; (k) collect and produce statistics; (l) cooperate with and participate in international fora; and (m) carry out any ancillary activities incidental to the exercise of its functions.