Banking in Sierra Leone
{{Use dmy dates|date=February 2014}}
Banking in Sierra Leone consists of a central bank, the Bank of Sierra Leone, seven commercial banks, and six community banks.{{Cite web|title=Community Banks |publisher=Bank of Sierra Leone |url=http://www.bankofsierraleone-centralbank.org/community_banks.html |access-date=21 February 2011 |url-status=dead |archive-url=https://web.archive.org/web/20081113110229/http://www.bankofsierraleone-centralbank.org/community_banks.html |archive-date=13 November 2008 }}
Banking sector
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.{{Citation|title=Sierra Leone: Poverty Reduction Strategy Paper IMF country report|publisher=International Monetary Fund|year=2005|page=58|url=https://books.google.com/books?id=bi56MFFNMnsC&dq=sierra+leone+banking&pg=PA58}} 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.{{Cite book|title=Banking the poor: measuring banking access in 54 economies|publisher=World Bank Publications|year=2009|pages=57|url=https://books.google.com/books?id=aN9EbTuCve0C&dq=sierra+leone+banking&pg=PA57|isbn=978-0-8213-7754-3}}
Community Banks
Community banks play the role of extended financial services to local communities which are not able to access the commercial banks. They are also designed to help development within Sierra Leone by supporting the government's microfinancing program and by empowering local communities.
| class="wikitable" |
| + Community Banks |
| Name || Founded|| District |
|---|
| Zimmi Community bank |
| Kabala Community bank |
| Marampa Masimera Community Bank
| | |
| Yoni Community Bank Ltd
| |
| Mattru Community Bank Ltd |
| Segbwema Community Bank Ltd |
See also
References
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{{Sierra Leone topics}}
{{Africa topic|prefix=Banking in}}