Bank of Sierra Leone Announces New Directives for Cash Withdrawals
The Bank of Sierra has announced that they have removed over-the-counter limits for cash withdrawals per bank account from all commercial banks and other licensed deposit-taking institutions with immediate effect.
The bank made this announcement in a statement issued today today, Friday 16 September 2022.
The Bank of Sierra Leone hereby state as follow:
“FURTHER to the Public Notices dated 8th July 2022 and 15th July 2022 issued by the Bank of Sierra Leone on the aforementioned subject, the Bank of Sierra Leone hereby states as follows:
1. All Cumulative weekly over-the-counter limits for cash withdrawals per bank account from all commercial banks and other licensed deposit-taking institutions are hereby removed with immediate effect.”
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On 8 July 2022, in accordance with Section 65 of the Bank of Sierra Leone Act of 2019, the bank issued a directive that the over-the-counter cash withdrawal limits for individuals and corporate entities should not exceed NLe30,000 (30 million leones in old currency) and NLe100,000 (100 million leones in old currency) respectively.
Check out the notice below:
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