CBL, Judges Train on New Banking Law

GANTA, Nimba County, November 3, 2026: The Central Bank of Liberia (CBL), in collaboration with the James A. A. Pierre Judicial Institute and the United Nations Development Programme (UNDP), has concluded a one-day training workshop for judges on Liberia’s new Banking and Financial Institutions Act (BFIA).

The training, held in Ganta, brought together magistrates and judges from commercial, debt and circuit courts across Liberia to strengthen their understanding and application of the new banking legislation.

The BFIA introduces reforms aimed at improving corporate governance, strengthening regulatory oversight and enforcement, and establishing clearer mechanisms for managing distressed financial institutions.

In remarks delivered on his behalf, CBL Executive Governor Henry F. Saamoi described the training as a critical investment in institutional development, financial stability and the rule of law.

He said the new legislation represents a significant reform of Liberia’s banking regulatory framework, aligning it with regional and international standards.

Governor Saamoi emphasized that the effectiveness of the law depends not only on its provisions but also on proper interpretation and application by the courts.

“Investors commit capital where contracts are respected, businesses can grow, and disputes are resolved fairly and efficiently,” Saamoi said. “A strong and credible financial system cannot flourish without the rule of law.”

His statement was delivered by Acting Deputy Governor for Economic Policy Euphemia G.T. Swen-Monmia, who commended Chief Justice Yamie Quiqui Gbeisay, Sr., and the Judiciary for their commitment to professional development.

Swen-Monmia said the collaboration between the CBL and the Judiciary demonstrates a shared commitment to strengthening institutions, attracting investment and promoting public confidence in Liberia’s financial system.

Speaking on behalf of participants, the President of the National Association of Trial Judges of Liberia, Judge Ousman Feika, welcomed the initiative, describing it as an important step toward improving judicial capacity to handle banking and financial disputes.

The training forms part of the CBL’s broader efforts to strengthen financial sector governance and ensure effective implementation of reforms designed to promote a stable and resilient banking system.