Regulatory Alerts2013-09-05
Amended Regulation Concerning Banking License No. CBL/RSD/010/2011
The Central Bank of Liberia issued Regulation No. CBL/RSD/010/2011 to establish comprehensive licensing requirements for new financial institutions operating in Liberia. The regulation mandates a minimum capital deposit of US$10 million in an escrow account, detailed submissions on legal structure, ownership, management, and risk frameworks, and a strict six-month provisional license period for organizational setup. Upon successful pre-opening inspection and compliance with provisional conditions, applicants receive a final banking license subject to a US$25,000 licensing fee and an annual operating levy of US$10,000.
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