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CBL issues new regulations on money transfers

The Central Bank of Liberia (CBL) has issued a new regulation governing inward personal remittances received via money transfer institutions from abroad.

Under the regulation, payments of money transferred or money sent from abroad to a recipient in Liberia will now be made both in Liberian and United States dollars respectively.

Accordingly, recipients of money transfers sent from abroad will be paid 25 percent in Liberian Dollars and 75 percent in United States Dollars. The Liberian dollars payment will be made at the CBL published selling exchange rate prevailing on the date of the payment of the transfer to the recipient. The exchange rate shall be conspicuously displayed on the premises of the financial institutions.

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All Liberia Party Standard Bearer Benoni Urey speaking to media executives at his residence in Careysburg.

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