By Augustine Octavius
The Central Bank of Liberia (CBL) has said it has made headways in putting into place an efficient payment and settlement infrastructure and policies in the country, covering both the retail and large-value transactions.
CBL Executive Governor Milton Weeks this week announced a robust plan aimed at strengthening the institutional capabilities of commercial banks and stakeholders and to improve customer service through digital financing services in the country.
Weeks,said this initiative is part of the overall financial sector reform by the CBL, which is essential to the success of the National Payment Systems implementation process.
Governor Weeks made the disclosure when delivered the kynote speech at a one day symposium on the national payment electronic systems organized by the representatives of banking , information, communication and technological sectors in Monrovia.
The CBL boss disclosed that the bank acquired a brand new national electronic payment system purposely to solidify and complement its overall payment reform.
Speaking in an interview, the Director of Finance Department at the CBL, Dorbor Hagba disclosed that the objective of the symposium is to create the awareness among stakeholders in the banking and technical sectors on making payments on huge financial transaction electronically.
Hagba added that the Ministry of Finance and Development Planning and others institutions of employments will be the first institutions that will be among the first institutions that will start the implementation of this initiative
The symposium , held under the theme:” Driving Towards Financial Inclusion and Cash-Lite Liberia,” brought together heads or representatives of banking institutions, the Lone Star Cell, Oragne Liberia, the Liberia Telecommunication Corporation among others. .