Liberia: fintech & payments regulation

Who regulates

• Central Bank of Liberia

  Primary supervisor for payment systems, electronic payments, mobile money, and money remittance; oversees banking and financial institutions.

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Core laws & rules

• Payment Systems Act of Liberia (2014)

  Establishes the legal framework for regulating payments, clearing, and settlement systems, granting the CBL powers to designate and oversee financial networks.

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• Bank-Financial Institutions and Bank-Financial Holding Companies Act (2025)

  Enacted to establish a comprehensive regulatory framework for banking and financial entities, mandating standardized licensing and capital requirements.

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• New Financial Institutions Act (1999)

  Repeals the 1974 Act and establishes the foundational regulatory framework for banking and non-bank financial institutions, including licensing and minimum capital.

Licensing & registration

• Electronic Payment Services

  Comprehensive licensing and operational standards for banks, non-bank financial institutions, and third-party operators. Capital: US$100,000

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• Mobile Money Services

  Licensing and operational framework for mobile money providers, requiring authorized institutions and licensed providers to maintain minimum capital. Capital: US$100,000

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• Money Remittance Entities

  Comprehensive licensing and supervisory frameworks including fit-and-proper criteria, capital thresholds, and operational infrastructure requirements.

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Restrictions & warnings

• Government-to-person disbursements and person-to-government revenue collections via mobile money must be routed exclusively through the National Electronic Payment Switch/Inclusive Instant Payment Systems (NEPS/IIPS).

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• Licensed commercial banks and financial institutions must transition from manual to automated cheque processing under the ACP/ACH framework.

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• Commercial banks must obtain prior written approval before introducing any new or non-traditional financial product or service.

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Direction of travel

• The regulatory environment is evolving with the 2025 Banking Act and recent directives pushing for automation and centralized payment routing, indicating a move towards more integrated and supervised digital payment infrastructure.

  ^[1][8][7]

Sources

1. Bank-Financial Institutions and Bank-Financial Holding Companies Act of 2025 · 2026-04-03
2. The Payment Systems Act of Liberia (2014) · 2019-10-01
3. Regulations Concerning Licensing and Operations of Electronic Payment Services in Liberia · 2020-01-16
4. Mobile Money Regulations · 2014-12-10
5. Concerning Regulation for the Licensing and Supervision of Money Remittance Entities · 2022-10-17
6. Regulation for the Licensing and Supervision of Money Remittance Entities · 2016-12-03
7. NEPS-IIPS Directive on Routing Government Revenue and G2P Payments · 2025-10-01
8. Directive Concerning Transition from Manual Clearing to Automated Cheque Processing · 2026-03-12
9. Directive on the Introduction of Financial Products and Services by Commercial Banks · 2009-06-17