The Sierra Leone Collateral Registry is an initiative of the Bank of Sierra Leone (BSL) with support from the International Finance Corporation (IFC) a member of the World Bank Group to improve access to finance particularly for Micro, Small and Medium Enterprises (MSMEs). The Collateral Registry, established under Part II of the Borrowers and Lenders Act, is a web based system that allows lenders to search for any prior security interests, as well as establish their security interests over movable assets provided as collateral. The Collateral Registry facilitates the use of movable / personal assets as collateral that may remain in possession or control of the borrowers and thereby improves access to secured finance because:
Any person can access the Collateral Registry System by entering the URL address www.bsl.gov.sl in a web browser but only registered users are able to submit registration forms. Accessing the Collateral Registry System depends on the Client Type. Unlike a Registered Client, a Public Client needs no registration in the system in order to perform search. A Registered Client has to be a financial institution licensed and regulated by the BSL or a Legal Agent (institution or individual).
Users of the Registry can either request for a postpaid client account or prepay for transactions at the BSL Pay-point. To pay for a transaction in the CRS, first determine the total amount of fees for all the services you want to do from the Fees option under the HELP menu. Then pay that amount at the Pay-point outlet.
Postpaid Client Account users are financial institutions regulated by the BSL who hold a clearing account with the central bank. Such financial institutions should open a client account with the Collateral Registry by clicking the Register Tab on the home page to register and request to be setup on a Postpaid Account. This allows the institution through its authorized users to login to the application, register forms and request for search certificates without making any advanced payments. The transaction fees are automatically deducted from the financial institutions credit account with the BSL and a statement is generated for the client at the end of each month, detailing all completed chargeable transactions.
If you represent a body corporate or acts as an agent on behalf of another financial institution and holds no account with the central bank but intends to use the registration and search services of the CRS, you must open a client account with the Collateral Registry by clicking the Register Tab on the home page to register and pay the fees in advance at the BSL Pay-Point.
If all you want to do is to search for existing Security Interests (e.g. lien). Make sure to pay the fees in advance at the BSL Pay-Point. Click the Search Menu on the Home Page to choose the Search type to perform. In that case, there is no need to login.