things, money gram money transfer, which is one of the fastest means of transferring money into and out of sierra leone, and has also introduced mobile banking services. this last development has given its customers the opportunity to access and initiate transactions on their accounts from anywhere and at any time of the day. in the bank ’ s drive for excellence and customer satisfaction, the bank of sierra leone has continued and will continue to create the enabling environment for safe and sound banking. for instance, in collaboration with other stakeholders, the bank of sierra leone is putting in place measures to implement all provisions of the anti - money laundering act so as to prevent money launderers using our financial system for their criminal activities. a recently concluded workshop organised by unodc / giaba / / bank of sierra leone succeeded in drafting a national anti - money laundering strategy with the aim of providing a framework for an anti - money laundering regime that will ensure effective crime prevention and detection, and at the same time avoid creating excessive burden on the financial system and its users. the workshop attracted various stakeholders, including the association of commercial bankers in sierra leone to which gtb is an active member. the bank of sierra leone shall continue to maintain the open door policy and encourage dialogue in the process of ensuring a sound and stable financial system. mr chairman, distinguished ladies and gentlemen, allow me to close this brief remarks by once again congratulating the board, management and staff of the guaranty trust bank ( sl ) limited for another step taken to enhance the public image of the bank. i thank you for your attention.

policy, although this is not addressed here. the 2017 financial stability board report highlighted the potential use of ai tools by central banks and prudential authorities for applications ranging from systemic risk identification to detecting fraud and money laundering ( financial stability board, artificial intelligence and machine learning ). see financial stability board, artificial intelligence and machine learning. see also, e. g., u. s. department of the treasury, a financial system that creates economic opportunities ( washington : u. s. department of the treasury, june 3, 2018 ), https : / / home. treasury. gov / sites / default / files / 2018 - 07 / a - financial - system - that - creates - economicopportunities - - - nonbank - financi.... pdf ; brainard, “ where do consumers fit in the fintech stack? ” ; and american bankers association, “ understanding artificial intelligence. ” - 4saving them the waiting time to speak with a live operator. second, there is the potential for strengthening back - office operations, such as advanced models for capital optimization, model risk management, stress testing, and market impact analysis. third, ai approaches could be applied to trading and investment strategies, from identifying new signals on price movements to using past trading behavior to anticipate a client ’ s next order. finally, there are likely to be ai advancements in compliance and risk mitigation by banks. ai solutions are already being used by some firms in areas like fraud detection, capital optimization, and portfolio management. current regulatory and supervisory approaches the potential breadth and power of these new ai applications inevitably raise questions about potential risks to bank safety and soundness, consumer protection, or the financial system. 10 the question, then, is how should we approach regulation and supervision? it is incumbent on regulators to review the potential consequences of ai, including the possible risks, and take a balanced view about its use by supervised firms. regulation and supervision need to be thoughtfully designed so that they ensure risks are appropriately mitigated but do not stand in the way of responsible innovations that might expand access and convenience for consumers and small businesses or bring greater efficiency, risk detection, and accuracy. likewise, it is important not to drive responsible innovation away from see, e. g., financial stability board, artificial intelligence and machine learning and national consumers law center ( on behalf of its low - income clients ), california reinvestment coalition consumer action, consumers union, national association of