MONROVIA, LIBERIA-The Central Bank of Liberia is expected to shortly collaborate with the Ministries of Commerce and Transport to begin a merchant acceptance scheme.
The Director of the Payment System Department at the CBL, Miatta Kuteh, said:” The scheme will allow business people transact with without using cash.”
Speaking with ELBC Monday, December 2, 2019, Madam Kuteh said the policy will ease the use of cash, thereby helping government achieve a cashless environment.
Meanwhile, the CBL has disclosed that it is now migrating along with all Commercial Banks and stakeholders in the financial sector from a platform called ‘radio link’ to an upgraded platform known as Dark Fiber.
Madam Kuteh said:” The system will alleviate the issues of system down and ease transactions both in the banking sector and other financial institutions.”
She asserted that the policy is being initiated by Libetlco and it will ease all payment systems from mobile money to ATMs and other means of transactions.