Regulatory Alerts2020-01-16
Regulations Concerning Licensing and Operations of Electronic Payment Services in Liberia
The Central Bank of Liberia has issued comprehensive regulations establishing licensing and operational standards for electronic payment service providers, including banks, non-bank financial institutions, and third-party operators. The framework mandates a minimum paid-up capital of US$100,000, outlines application and annual operating fees, and requires robust information technology systems with strict cybersecurity, data protection, and business continuity protocols. It further defines oversight mechanisms, reporting obligations, and remedial penalties to ensure safe, efficient, and transparent e-payment transactions across Liberia’s financial system.
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