Bank of Sierra Leone

Implementation of RTGS (RTS/X) and SSS (DEPO/X)


Sierra Leone, Freetown
August 2013

CMA has installed Real Time Gross Settlement and Scripless Securities Settlement systems in Bank of Sierra Leone at the second stage of the West Africa Monetary Zone Monetary Integration Programme carried out by West Africa Monetary Institute in the Gambia, Sierra Leone, Guinea and Liberia and financed by African Development Fund. RTGS system went live in August 2013 and SSS was launched one month after.
The systems allowed BSL to replace manual transactions processing with efficient and secure electronic transfers. Mr. Abib Gaye, Senior Payment System Specialist, World Bank, commented on the project completion: “Today, this combined team of proficient and most able persons has achieved for the nation, a milestone that will stamp indelibly upon the record of history a move forward in the management and conduct of finance within the country."

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