The Executive Governor of the Central Bank of Liberia, Hon. Nathaniel R. Patray, III has called for a nation-wide expansion in the use of digital financial services. He made the remarks when he spoke at the Financial Inclusion Steering Committee meeting in the CBL Board Room.
Executive Governor Patray said Liberia needed to emulate the example of other countries that have graduated from physical financial transactions to digital services like mobile money and ATM services, all of which have economic benefits.
The CBL Executive Governor suggested that extensive awareness was needed for everybody to understand the impact and importance of digital financial services within the Liberian economy. “Because of the importance accorded digital financial services, CBL and its stakeholders have designed a Financial Inclusion Roadmap that focuses on price stability and technology. This will make every transaction secure, reliable and timely for everybody”, Executive Governor Patray emphasized.
The event brought together representatives from the Ministries of Finance and Development Planning; Education; Posts and Telecommunications; the Liberia Revenue Authority; Liberia Telecommunications Corporation; the United Nations Development Program; and the Liberia Bankers Association.