Regulatory Alerts2009-06-17
Directive on Expansion and Closure of Bank Branches and/or Windows
The Central Bank of Liberia requires commercial banks to obtain prior written approval before establishing, expanding, or closing branches, windows, or other banking outlets. Applicants must demonstrate strong financial performance, submit detailed feasibility reports and five-year projections showing a three-year breakeven, and ensure adequate staffing, IT infrastructure, and secure premises. Voluntary closures require documented justification, updated financials, staff relocation plans, and customer settlement arrangements, while non-compliance triggers supervisory sanctions.
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