Politics News

CBL hosts economic forum on financial inclusion

The Central Bank of Liberia (CBL) will on Friday, December 13, 2019 hold the third in series of its Economic Forum in the Auditorium of Bank with the theme: “Financial Inclusion in Liberia: How far we have come and where are we headed?”

The forum will highlight the current status of financial inclusion in Liberia and strengthen the broader goal of digitizing the Liberian economy; and the role of key stakeholders.

The Head of the Financial Sector Development Unit at the CBL, Mr. James B. Wilfred, is the key presenter of the theme for the forum. World Bank Representative, Dr. Khwima Nthara; the Deputy Minister for Economic Management at the Ministry of Finance and Development Planning, Mr. Augustus J. Flomo, and the Managing Director of Ecobank Liberia Limited, Mr. George Mensah-Asante as well as the Chief Executive Officer of Lonestar/MTN Mobile Money, Madam Uche Ofodile, will serve as panelists.

The forum will be followed by the launching of the National Financial Inclusion Strategy of Liberia (NFISL) which was recently endorsed by the Cabinet. The Strategy, which was developed with technical support of the World Bank, seeks to drive the financial inclusion agenda of Pillars I and II under the Pro-poor Agenda for Prosperity and Development (PAPD) as part of the Government’s objective.

The strategy also aims to promote access to financial services through digital channels in Liberia in a coordinated and focused manner. From the perspective of monetary authorities, evidence shows that financial inclusion is crucial for promoting not only financial stability, in terms of efficient funding sources, but also relevant for supporting private sector development and monetary stability.

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