From Awareness Times Newspaper in Freetown

NOTICES & DOCUMENTS
Bank of Sierra Leone Bank Governor Restructures Commercial Bank
By
Jul 11, 2013, 17:14

 

 

BANK OF SIERRA LEONE

NOTICE

WHEREAS Section 36 of the Bank of Sierra Leone Act 2011 provides; The Bank shall be responsible for the regulation, licensing, registration and supervision, including imposition of remedial measures and administrative sanctions of commercial banks and other financial institutions in accordance with this Act or any other enactment.

 

AND WHEREAS recent developments in the Sierra Leone Commercial Bank have warranted the urgent intervention of the Bank of Sierra Leone with the overriding concern of safeguarding the rights and interests of depositors.

 

AND WHEREAS Section 4(1) of the Banking Act, 2011 stipulates that the said Act has the objective of promoting a safe and sound banking system, and providing an appropriate level of protection of depositors interests.

 

In light of the forgoing, and pursuant to Section 36 of the Bank of Sierra Leone Act 2011, the Governor of the Bank of Sierra Leone now hereby appoints Mr. Idrissa Amadu Kamara as Managing Director of the Sierra Leone Commercial Bank and Mr. Mohamed Sajoh Bah as Chief Risk Officer of same, with immediate effect, invested with all powers to take such remedial measures in the interest of Sierra Leone Commercial Bank in particular, and its depositors in general. Their respective CVs are attached.

 

 

 

 

 

 

 

Sheku Sambadeen-Sesay

Governor

Dated this 9th day of July 2013

 

CURRICULUM VITAE

MR. IDRISA AMADU KAMARA

Idrissa Amadu Kamara before this appointment was Executive Director, Finance and Chief Operating Officer of Standard Chartered Bank Sierra Leone Limited. A disciplined Finance and Banking professional with 18 years experience in Accountancy, Finance, Banking, Management and Leadership. Idrissa has a Sound Knowledge of the Banking and Financial Industry in Sierra Leone, having served as an Executive Director Standard Chartered Bank for over five(5) years and Acted as Chief Executive Officer (CEO) on several occasions.

 

He is a Fellow of Association of Chartered Certified Accountant (ACCA), Fellow of the Institute of Chartered Accountants of Sierra Leone and holds a Masters Degree in Business Administration (MBA) from Oxford Brooks University, UK.

 

Idrissa has contributed immensely to improving the Business and Governance Framework at Standard Chartered Bank Sierra Leone Limited. Under his indefatigable leadership and drive, in 2004 as a result of process engineering that significantly improved reporting timeless, the Sierra Leone Finance team was among the top finalists in the global Standard Chartered Bank Chairmans Award. He was also tasked with the responsibility of driving leadership of High Potential Staff within the Finance Function across Africa; and was a member of the Subject Matter Expert Council of the Standard Chartered Group Finance Transformation Project. Idrissa also served as Company Secretary from 2004 to 2007.

 

He has pursue various Standard Chartered Bank management and leadership development programmes in the following countries; Botswana, Dubai, England, Ghana, the Gambia, India, Kenya, Malaysia, South Africa, Singapore, Tanzania, Thailand and Zimbabwe. 

 

He also served as an Executive Council Member of the West Africa Bankers Association (WABA) between the period 2007 to 2010.

 

He is the current Executive Secretary to the British Chamber of Commerce in Sierra Leone.

 

CURRICULUM VITAE

MOHAMED SAJOH BAH

Mr. Bah has worked in the area of Risk Management for the past seven years, six of which are in the banking sector at a management level. First in the public sector, with the Audit Service Sierra Leone attached to the Ministry of Finance and Economic Development, where he supervised and executed the audit of the Annual Statement of Public Accounts (Consolidated Accounts) of Sierra Leone from 2002 to 2006 financial years. He moved to the banking sector in October 2007 joining ECOBANK Sierra Leone as Head, Audit and Compliance Department principally responsible for the overall management of risks of the bank. He joined the Bank of Sierra Leone in November 2010 as Assistant Director in the Internal Audit Department and was in charge of auditing and reviewing the banks operations. He was transferred to the Banking Supervision Department in September 2011 as Assistant Director as head of the Commercial Banks Supervision Division. He supervise and coordinate the review of banks to identify risks in the banking sector and make appropriate recommendations, ascertain compliance with laws and regulations and implement enforcement actions with the objective of ensuring a safe and sound banking system.

 

He has excellent knowledge in the area of public sector audit, internal audit and compliance. A high level practical experience in banking operations, regulation, supervision and stability and advanced knowledge in International Financial Reporting Standard and International Standards of Auditing.

 

He is a qualified Professional Accountant of the Association of Chartered Certified Accountants (ACCA) and holds a BSc (Hons) Applied Accounting from IPAM-University of Sierra Leone in addition to a Technician Diploma in Accounting-TDA from the same University. Mr. Bah has also benefited from specialized training ranging from operational risk management, risk based auditing, fraud and forensic examinations and advanced anti-money laundering techniques, credit and liquidity risk management, advanced banking supervision and financial stability to risk based supervision.

 

In addition to his current role as the Head of the Commercial Bank Supervision Division, Mr. Bah is representing the Bank of Sierra Leone as a Board Member of the Sierra Leone Ports Authority.



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