Banking in Sierra Leone consists of a central bank

Central bank

A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...

, the Bank of Sierra Leone

Bank of Sierra Leone

The Bank of Sierra Leone is the central bank of Sierra Leone. It issues the country's currency, known as the Leone. The bank formulates and implements monetary policy, including foreign exchange....

, seven commercial banks, and six community banks. The Civil War

Sierra Leone Civil War

The Sierra Leone Civil War began on 23 March 1991 when the Revolutionary United Front , with support from the special forces of Charles Taylor’s National Patriotic Front of Liberia , intervened in Sierra Leone in an attempt to overthrow the Joseph Momoh government...

 destroyed many of the branches

Branch (banking)

A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....

 of the countries commercial banks and as of 2005 there were 34 commercial bank branches the majority in the major towns. 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.

Community Banks

Community banks play the role of extended financial services

Financial services

Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...

 to local communities who are not able to access the commercial banks. They are also designed to help development within Sierra Leone by supporting the governments microfinancing program and empowering local communities.

Community Banks
Name	Founded	District
Zimmi Community bank	June 2005	Zimmi Zimmi, Sierra Leone Zimmi is a small town in Pujehun District of southern Sierra Leone. As of 2009 it had an estimated population of 5,369. The town is a trade centre in particular relating to agriculture, mining and commercial business activities, and provides a link for trade with Liberia... , Pujehun District Pujehun District Pujehun District is a district in the Southern Province of Sierra Leone. Its capital is the town of Pujehun . The other major towns in the district include Gandorhun, Zimmi, Bomi and Potoru.The district has a 2010 estimated population of 276,970....
Kabala Community bank	July 2008	Kabala Kabala, Sierra Leone Kabala is the capital and largest town of Koinadugu District in the Northern Province of Sierra Leone, with a population of 14,108 in the 2004 census, and a current estimate of 18,770 Kabala is one of the main cities in northern Sierra Leone and is set in a rural landscape... , Koinadugu District Koinadugu District Koinadugu District Is a District in the Northern Province of Sierra Leone. It is by far the largest District in Sierra Leone in geographical area. Its capital and largest city is Kabala, which is also one of the main cities in Northern Sierra Leone...
Marampa Masimera Community Bank
Yoni Community Bank Ltd
Mattru Community Bank Ltd	July 2004	Mattru Jong Mattru Jong Mattru Jong commonly known as Mattru is a major fishing town on the mainland of Bonthe District in the Southern Province of Sierra Leone. It is located along the Jong River, 52 miles southwest of Bo. It is the seat of the Jong Chiefdom, and home of Paramount Chief Alie Badara Sheriff III. The... , Bonthe District Bonthe District Bonthe District comprises several islands in the Atlantic Ocean off the southwestern coast of Sierra Leone and a mainland area. Its capital is the town of Mattru Jong and the largest town in the district is Bonthe, on Sherbro Island and the town of Masabendu....
Segbwema Community Bank Ltd	February 2005	Segbwema Segbwema Segbwema is a major agricultural center of Sierra Leone, with a population of 7,961 . It is the largest town in Kailahun District after the capital ; and the fourth largest in the Eastern Province... , Kailahun District Kailahun District Kailahun District is a district in the Eastern Province of Sierra Leone. Its capital and largest city is Kailahun. The other major towns in the district include Segbwema, Koindu, Pendembu and Daru. As of 2010, the district has a population of 395,957 ....