Regulatory Alerts2021-06-19
Amendment and Restatement of the Act Establishing the Central Bank of Liberia
Enacted by the Liberian Legislature, this legislation amends and restates the 1999 Act to formally establish the Central Bank of Liberia as an autonomous corporate body with perpetual succession. It mandates the Bank to maintain domestic price stability and a stable financial system while exercising exclusive authority over monetary policy, currency issuance, foreign exchange operations, and the regulation of financial institutions. The Act vests operational and policy powers in a five-member Board of Governors led by an Executive Governor, establishes minimum capital requirements, and outlines comprehensive reporting, audit, and immunity provisions to ensure transparent governance.
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