Regulatory Alerts2025-06-11
Central Bank of Liberia Issuance Bond Directive
The Central Bank of Liberia mandates that all bond-issuing insurance companies must obtain written clearance from the Insurance Department before issuing court bonds in Liberia. Insurers are required to submit notarized, certified audited financial statements and an updated listing of outstanding bonds for verification and assessment. Upon meeting these requirements, the Central Bank issues a Certification of Assets based on the insurer's cumulative bond totals, with this directive taking immediate effect.
CENTRAL BANK OF LIBERIA Directive # : CBL/ID/DIR/0 0112025 Concerning Insurance Companies Issuing Bonds Sufficient to Cover Assets The Central Bank of Liberia (CBL) hereby issues the following Directive concerning the Certification of Assets by Insurance Companies. Pursuant to Chapter 10.1 Subsection I (a & b) of the Insurance Act of 2013, that authorized the---1qff0fity,qo request insurers "to provide specified information ot iat@ination of a specified description; or to produce specified dg,guments or docurneri$of a specified description", has approved the pe-lpw procedures for Cprtification of Assets for r,. I r:/ t
- That the Executive Gov--Anor ,gf thett Central Bank of Liberia directs all bond issuing ittsarvil7q.seek written clearance from the Insurance Departm;ntpri;iio irrrirg ALL COURT bond(s) in the Republic of Liberia.
- Thatall Insurance Companies interested in issuing bonds present their notaized certified audited financial statements to the Insurance Department for verification and assessment.
- That the insurer presents an updated certified outstanding bonds listing to the Insurance Department of all bonds issued prior to the issuance of any new bonds.
CENTRAL BANK OF LIBERIA 4. Having met requirements l-3, cBL cafl now issue the Certification of Assets considering the cumulative total bonds issued to the qualified insurer. This Directive takes immediate effect upon issuance and shall remain in force until otherwise advised by the Authority. Issued this 1 6n Day of May 2025 Signed: I