Regulatory Alerts2014-12-10
Mobile Money Regulations
The Central Bank of Liberia issued these regulations to establish a comprehensive licensing and operational framework for Mobile Money Services, replacing its 2011 guidelines. The rules mandate that authorized institutions and licensed providers maintain a minimum paid-in capital of US$100,000 and safeguard 100 percent of customer mobile money float in liquid trust accounts. The framework further standardizes agent supervision, transaction interoperability, consumer fee disclosures, and data protection while outlining clear reporting obligations and penalties for non-compliance.
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