Sierra Leone Association of Commercial Banks Limited (SLACB) was organized in June 2011 as a not-for-profit private company limited by guarantee, with the members being the commercial banks in the country. Following the end of the civil war in 2002, several new banks entered the market and by 2010 there were thirteen (13) of them up from about six pre the war. With that many banks in the market place it became expedient that banks formally organize themselves under an umbrella association for the purpose of promoting the business of developing the sector, deepening their reach.
At a present financial inclusion rate of less than 30 percent, SLACB’s mandate is urgent and pressing and the digitization of financial services and products in Sierra Leone has been embraced by the Association as the road map to achieving its objective.
Towards this and other pursuits, SLACB
- Advocates for responsive policy, regulation, and coordinated action on industry matters.
- Promotes professional development and education, by managing the administration of the Associateship Chartered Institute of Bankers (ACIB) examinations in Sierra Leone.
- Promotes dialogue on banking and finance amongst business practitioners, regulatory agents and government, through seminars and forums.