Regulatory Alerts2019-10-01
The Payment Systems Act of Liberia (2014)
Issued by the Liberian Legislature under the authority of the Central Bank of Liberia, this Act establishes a comprehensive legal framework for regulating payments, clearing, and settlement systems. It grants the Central Bank explicit powers to designate and oversee financial networks, authorize payment instrument issuers, enforce operational standards, and mitigate systemic risk. The legislation further codifies participant rights, establishes settlement finality and dispute resolution procedures, and imposes financial penalties to guarantee market stability and regional integration.
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