Central Bank of Liberia
Encyclopedia
Liberia
Liberia , officially the Republic of Liberia, is a country in West Africa. It is bordered by Sierra Leone on the west, Guinea on the north and Côte d'Ivoire on the east. Liberia's coastline is composed of mostly mangrove forests while the more sparsely populated inland consists of forests that open...
's central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
. Its current executive governor
Governor
A governor is a governing official, usually the executive of a non-sovereign level of government, ranking under the head of state...
is Mr J Mills Jones.
The offices of the bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
are located in Monrovia
Monrovia
Monrovia is the capital city of the West African nation of Liberia. Located on the Atlantic Coast at Cape Mesurado, it lies geographically within Montserrado County, but is administered separately...
, the capital of Liberia.
History
Before the year 2000, Liberia's central bank was the National Bank of Liberia. The Central Bank of Liberia, known as "CBL", was founded on 18 October 1999 by an act of the Liberian legislatureLegislature
A legislature is a kind of deliberative assembly with the power to pass, amend, and repeal laws. The law created by a legislature is called legislation or statutory law. In addition to enacting laws, legislatures usually have exclusive authority to raise or lower taxes and adopt the budget and...
, and began operations in the year 2000, at which time the National Bank of Liberia, or "NBL", was dissolved.
The first executive governor of the CBL was Mr Elie E Saleeby.
See also
- Central banks and currencies of AfricaCentral banks and currencies of AfricaThere are two African currency unions associated with multinational central banks; the West African Banque Centrale des Etats de l'Afrique de l'Ouest and the Central African Banque des Etats de l'Afrique Centrale...
- Economy of LiberiaEconomy of LiberiaThe First Liberian Civil War in 1989-96 destroyed much of Liberia's economy, especially the infrastructure in and around Monrovia. Many businessmen fled the country, taking capital and expertise with them. Some returned during 1997. Many will not return...
- Liberian dollarLiberian dollarThe dollar has been the currency of Liberia since 1943. It was also the country's currency between 1847 and 1907. It is normally abbreviated with the dollar sign $, or alternatively L$ or LD$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.-First dollar:The...
- List of central banks