Regulatory Alerts2020-09-29
Regulations for Rural Community Finance Institutions
The Central Bank of Liberia promulgated Regulation No. CBL/RSD/006/2019 to govern the establishment, licensing, and operational standards of rural community finance institutions (RCFIs). The directive classifies RCFIs into Tier 2a and Tier 2b categories based on minimum capital requirements of one million and fifty thousand dollars, respectively, while mandating community-driven ownership, defined permissible activities, and adherence to prudential, corporate governance, and AML/CFT standards. Additionally, the regulations prescribe detailed licensing procedures, capital and liquidity limits, reporting obligations, and enforcement mechanisms to ensure institutional safety, soundness, and sustainable financial service delivery across Liberia.