The Banking Department is responsible for providing services to the Government of Liberia and commercial banks as well as facilitate the availability of liquidity in the Liberian economy.
Additionally, the Department implements CBL’s currency reform program, strengthens the management of the Government of Liberia’s account, and improves internal controls systems.
Implementation of Currency Reform
- Establish a dedicated currency management unit.
- Ensure adequate supply of Liberian dollar banknotes in the economy.
- Improve existing payment centers
- Construct Regional Cash Hubs
- Create of data centers
Strengthen Management of GoL Account
- Improve services to the Government of Liberia and ensure appropriate pricing of services provided.
- Execute Service Level Agreement (SLA) with the Government of Liberia
Improve Internal Controls
- Complete and correct all audits from both internal and external auditors
- Enhance internal control systems within the Banking Department
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