Regulatory Alerts2021-06-18
Central Bank of Liberia Act Amendments on Governance and Currency Issuance
The Legislature of Liberia, approved by the President on March 4, 2014, enacted amendments to the 1999 Central Bank of Liberia Establishment Act. The legislation requires legislative approval for issuing legal tender and banknotes, expands impeachment grounds for central bank officials to include gross breach of duty and bankruptcy, and prohibits Board members and the Executive Governor from holding political office while serving. Affected officials must resign three years prior to an election if contesting public office, with all amendments taking effect immediately upon publication.
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