Liberia
1 regulator · 4 laws & regulations · 7 obligations · 10 enforcement actions · 1 upcoming deadline
| Law or regulation | Type | Year | Regulator | Summary | Source |
|---|---|---|---|---|---|
| Guidelines Concerning Digital Credit for Financial Institutions status not recorded | Guideline | 2022 | — | Dated 17 March 2022 and issued under s.39 of the New Financial Institutions Act. Applies… | official |
Dated 17 March 2022 and issued under s.39 of the New Financial Institutions Act. Applies to banks, non-bank financial institutions and licensed mobile money entities offering digital credit: CBL application (s.5), loan cap of US$400 (s.9), borrower disclosures (s.6), complaint timelines (s.10) and data privacy rules (s.12). | |||||
| Directive No. CBL/RSD/DIR/002/2016 on Commercial Banks' Submission of Regulatory Returns to the Central Bank of Liberia status not recorded | Direction | 2016 | — | Sets daily, weekly, monthly, quarterly, semi-annual, annual and event-driven returns that… | official |
Sets daily, weekly, monthly, quarterly, semi-annual, annual and event-driven returns that banks send to the CBL, with fixed submission times and daily fines (L$100,000 for non-submission) for default. Issued under Part IV, s.24(1) of the New Financial Institutions Act of 1999. | |||||
| Mobile Money Regulations, 2014, Regulation No. CBL/RSD/003/2014 status not recorded | Regulation | 2014 | — | Issued 27 May 2014 and replacing Guidelines No. CBL/SD/009/2011. Licenses banks and… | official |
Issued 27 May 2014 and replacing Guidelines No. CBL/SD/009/2011. Licenses banks and non-bank mobile money providers (ss.5-10), requires 100% of float to be held in trust accounts (ss.13-14), sets three KYC tiers with balance and transaction limits (ss.15-16) and requires SIM registration. | |||||
| Insurance Act, 2013 status not recorded | Act | 2013 | — | Provides for the regulation and supervision of insurance business, insurance brokers… | official |
Provides for the regulation and supervision of insurance business, insurance brokers, agents and loss adjusters, and repeals provisions of the Insurance Law of 1973. The title page shows it as approved on 22 December 2014; Section 1.3 defines the Authority as the Central Bank of Liberia unless another body is specified by law. | |||||
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