The Governance framework of the payment systems in Liberia is based on the CBL role as; overseer, facilitator and Operator of the Payment systems.
Pursuant to the National Payment System Act, the Central Bank, through the Payment Systems Department has an explicit legal authority and powers for all payments oversight. As Overseer of the Payment Systems Operation in the country, the Payment Systems Department devises appropriate regulatory and policy framework for the national payment system based on accessibility in terms of cost and equitable competition amongst various providers of payment services. The CBL in its catalyst role of rendering safe and secure payment options which sustain emphasis on achieving the cash lite agenda and its financial inclusion initiatives, maintains contacts with private sector firms (Banks and Nonbanks), conduct research on important payments methods, and works with other public authorities for building an integrated payment infrastructure.