In recent times, the Public Account Committee has raised concerns regarding the Sierra Leone Commercial Bank lack of specific loan policy for Political Exposed Persons.
The concerns came following an Audit revealing that by December 31 2022, the SLCB had issued loans reportedly totaling SLE 41,448,000 to Politically exposed People without clearer policies or Procedures.
However, The Director of Corporate Affairs of the Sierra Leone Commercial Bank (SLCB), Victor Thomas Biandoma, Esq., addressed concerns over unjustified loan issuance.
The Director clarified that the loans in question raised in the Auditor General’s Report underwent a thorough vetting process in line with the bank’s stringent credit policies.
Emphasizing the institution’s commitment to transparency and due diligence, the Victor detailed the criteria met by the borrower, which included a strong credit history, a viable business plan, and other supporting documents.
He further assured customers and stakeholders that loans’ approval was based on sound financial judgement and aimed at fostering economic growth.
“The SLCB, recognised for its robust governance framework, remains dedicated to maintaining its reputation for financial integrity,” he averred.
The Director also mentioned that any allegations of impropriety are being taken seriously and investigated to uphold the bank’s standards and customer trust.
