The Governor of the Central Bank of Sierra Leone has reassured the public of a robust, secured and safe digital financial service delivery in the country.
Dr Ibrahim L. Stevens gave the reassurance during a discussion at the recent 2024 Sierra Leone Innovates Tech Summit hosted at the Freetown International Conference Center, Bintumani, from June 11 to 13, 2024.
In one of high points of his presentations at the Tech Summit, the Bank Governor recalled that the Bank of Sierra Leone commenced the improvement process of digital financing eight years ago as poverty alleviation measure. He said the scheme has over the years created a friendly eco-system that facilitates access to credit facilities for small businesses. Dr Stevens disclosed that the system puts 10% in a form of a market rates. He promised; we will continue to do this. This is not one of.
He informed that the Central Bank has been collaborating with others players in the sector on a very important economic factors for growth, continuing that alongside the Central Bank is building an eco-system. Dr Stevens furthered that the bank is responsible for major digital public infrastructure at the Bank of Sierra Leone. He said when once payments are made they are being managed by the Bank of Sierra Leone saying; ‘We are investing huge resource to ensure that the system is robust, safe and always secured to enable seamless operations by customers, he reassured all.
Digital finance can be better described as the impact of new technologies on the financial services industry. It includes a variety of products, applications, processes and business models that have transformed the traditional way of providing banking and financial services.
In Sierra Leone’s financial service industry, digital finance has taken great momentum with a steady progress as banks across the board now transact with customers vial their respective digital finance and banking products, services and applications.
