Nimba County District #6 Representative Dorwohn T. Gleekia is calling on the House of Representatives to invite the Executive Governor of the Central Bank of Liberia (CBL) to explain reasons for the alleged limited disbursement of Liberian Dollars to commercial banks.
According to him, the CBL is executing certain regulations that are causing serious economic inconveniences for citizens and residents here.
Representative Gleekia wants the House to address the issues with a high level of urgency.
He complains that there is a CBL regulation instructing all commercial banks within the country to convert and pay into Liberian Dollars 25% of monies sent to Liberia through moneygram or western union.
Worst of it all, the Nimba County lawmaker observes that the CBL has again instructed the commercial banks here not to give out the old bank notes, even though it is not supplying these commercial banks with the required Liberian bank notes to fully implement these regulations.
According to Representative Gleekia, this is resulting into the refusal of the commercial banks to pay monies sent from oversea to citizens and residents here on grounds that there is no Liberian dollar available.
He says these regulations are causing serious economic inconveniences for citizens and residents and must be addressed by the House with a high level of urgency.
According to him, this issue sparked up some debates here even within the corridors of the Legislature because what affects the people also affects their leaders.
He says he appreciates the effort of the CBL in executing its statutory functions, but he is equally concerned about the end result.
Meanwhile the House has sent the communication to the Committee on Banking and Currency and Ways, Means and Finance to investigate and report next Tuesday, 11 September.
By Bridgett Milton–Edited by Winston W. Parley