Section 118, The Banking Act, 2019

(1) A person who acquired knowledge in his capacity asdirector, manager, officer, employee or agent of a bank or financial holding company, or as its auditor, inspector, potential bidders, administrator, receiver or liquidator, shall not disclose to any person the identity, assets, liabilities, transactions or other information in respect of depositors and any other customer except - a) with written authorisation of the depositors and any other customer or the heirs or legal representatives of such depositors and any other customer; (b) for the purpose of the performance of his duties within his scope of employment in conformity with this Act; (c) when lawfully required to make the disclosure by a court of competent jurisdiction; or (d) under any law in force in Sierra Leone. (2) Except in the performance of his duties under this Act a director, manager, officer, employee or agent of a bank or a financial holding company shall during or after his relationship with the Central Bank preserve and aid in preserving secrecy with regard to all matters relating to the affairs of a bank or financial holding company and of any of its customers that may come to his knowledge in the performance of his duties. (3) A defaulting customer who refuses to pay his debts to a bank shall not be covered under this section. (4) The duty of confidentiality imposed under this section shall not apply where a customer - (a) issued with a credit card or charge card by a bank, has had the card suspended or cancelled by that bank by reason of default in payment, and the bank discloses information related to the name and identity of the customer, the amount of indebtedness and the date of suspension or cancellation of the credit card or charge card to another bank or institution that is issuing credit cards or charge cards in Sierra Leone; (b) is declared bankrupt or in case of a company is insolvent and or being wound up; 122 123 Maintenance of secrecy. (c) has died and the information is required by the appointed personal representative of the deceased or the testamentary executor solely in connection with the succession to the estate. (5) A person who contravenes this section commits an offence and is liable on conviction to a fine or imprisonment for a term not exceeding 2 years or both fine and imprisonment.