Freetown: In a decisive move to reinforce the country's financial system, the Parliament of Sierra Leone has officially enacted the Deposit Protection Fund Act 2024. The legislation was passed on the same day lawmakers approved the Build-Operate-Transfer (BOT) Concession Agreement for a new Online Business Registration System. According to Sierra Leone News Agency, the 2024 Act replaces the previous version from 2023, introducing a more comprehensive legal framework to govern and manage the nation's Deposit Protection Fund. The updated law aims to boost public confidence and improve the resilience of Sierra Leone's banking sector through three core pillars: stronger safeguards for depositors' money, clearer governance with transparent operational rules, and enhanced legal mechanisms to protect consumer funds when a financial institution faces distress or insolvency. This overhaul supports the government's broader strategy to ensure financial sector stability, protect consumer interests, and build lasting tr ust in Sierra Leone's banking institutions.