Regulation Concerning Fees for Banking License

THE LIBERIA OFFICIAL GAZETTE PUBLISHED BY AUTHORITY Vol. I Tuesday, December 5, 2000 No. 6 E X T R A O R D I NARY The Government of the Republic of Liberia announces that the Central Bank of Liberia (CBL), pursuant to its mandate under Section 55 of the Central Bank of Liberia Act of 1999, has issued on July 27, 2000, its Regulation No. CBL/SD/06/2000 hereinunder: REGULATION CONCERNING FEES FOR BANKING LICENSE

REGULATION NO CBL/SD/06/2000 July 27, 2000 REGULATION CONCERNING FEES FOR BANKING LICENSE The Central Bank of Liberia pursuant to the authority vested in it by Section 4 and Section 39 of the New Financial Institutions Act of 1999, does hereby make, set forth and regulate as follows: (1) To operate as a bank, a person applying shall pay to the Central Bank, a non￾refundable application fee of US$1,000.00. For the purpose of this Regulation, a person shall mean a legal person. (2) A person whose application, has been approved to operate as a bank shall, prior to the issuance of the license and the commencement of operations, pay to the Central Bank, a license fee of US$25,000.00. (3) Every bank duly licensed under, the provisions of the New Financial Institutions Act of 1999 shall pay an annual operating levy of US$10,000.00 to the Central Bank for every year they hold the license and operate rate in Liberia. This fee shall be paid every year on the 15th , of August. This Regulation shall come into full force and effect on the 27th day of. July 2000, and shall remain in full force and effect until otherwise altered by the Central Bank of Liberia. BY ORDER OF THE PRESIDENT Monie R. Captan MINISTER OF FOREIGN AFFAIRS MINISTRY OF FOREIGN AFFAIRS MONROVIA; LIBERIA DECEMBER 5, 2000