Regulatory Alerts2011-03-04
Central Bank of Liberia Directive on Display of Interest Rates, Charges, and Lending Rate Computation
The Central Bank of Liberia mandates that all licensed financial institutions clearly display schedules of lending rates, deposit interest, fees, and charges in accessible locations at all times. These institutions must apply the declining-balance method for interest computation and provide customers with a pre-contract repayment schedule detailing monthly principal and interest obligations. Violations incur daily fines of at least L$100,000 and other supervisory sanctions, while the directive supersedes prior regulations without invalidating existing transactions.
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