Sierra Leone

This report provides technical assistance to Sierra Leone in operationalizing its crisis management framework for banks, following the adoption of a legal framework for bank resolution and liquidation in 2019. Bank of Sierra Leone (BSL), the designated Resolution Authority, faces significant institutional capacity obstacles, primarily due to understaffing and lack of expertise. Recommendations focus on staffing and training a specialized resolution unit, merging it with the depositor protection unit, and enhancing operational preparedness through pre-engaging external experts and developing internal guidelines and procedures. The report includes a detailed Work Plan for 2025-2026.