Section 55, THE BANK OF SIERRA LEONE ACT 2019

(1) In order to acheive the objective of the Bank and tocarry out its functions the Bank may- (a) operate in the financial markets by buying and selling outright (spot or forward) or under repurchase agreement and by lending or borrowing claims and marketable instruments, as well as precious metals; and (b) conduct credit operations with banks operating in Sierra Leone, with lending based on adequate collateral. (2) Where the Bank engages in open market operations under subsection (1) the Board shall determine the specification of the instruments and operations used for open market and credit operations, including the announcement of conditions under which the Bank stands ready to enter the transactions. (3) The Board shall determine, by regulation, the type of instruments and collateral to be used for open market and credit operations and it shall announce under which conditions the Bank is ready to enter into such transactions.