Regulatory Alerts2021-06-18
An Act to Authorize the Establishment of the Central Bank of Liberia
The Liberian Legislature enacted this Act to repeal the previous law establishing the National Bank of Liberia and authorize the establishment of the Central Bank of Liberia as its successor. The Central Bank is mandated to achieve and maintain price stability, preserve the national currency's purchasing power, promote economic equilibrium, issue legal tender, regulate financial institutions, and manage foreign exchange reserves. Its powers are vested in a five-member Board of Governors, including an Executive Governor and Deputy Governor, and it is capitalized with a minimum authorized amount of L$400,000,000.
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