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CBL To Build Regional Cash Hub In River Gee County


  28 Octobre      36        Economy (14994), Finance (715),

   

PLEEBO, Oct. 26 (LINA) – The Central Bank of Liberia (CBL) has disclosed plans to construct a regional sub-branch in Fish Town, River Gee County.

In an interview with a local radio station in Maryland County, CBL Chairperson for the Currency Reform Project, Musa Kamara, disclosed that the construction of a sub-branch in River Gee County is meant to mitigate the difficulties commercial banks face in the southeastern part of the country getting money to their branches.

The regional cash hub, when constructed, will supply commercial institutions in Maryland, Sinoe, Grand Kru and other parts of the region, Kamara said.

He revealed CBL authorities are unhappy over the circulation of mutilated banknotes in the region, adding that « the roads are our major challenge. »

The CBL official has called on southeasterners to exercise restraint as government considers all options of getting the new Liberian banknotes into the region.

In keeping with its mandate as an agency responsible for currency management, the Central Bank of Liberia was mandated by the National Legislature and the President to print new banknotes to replace the mutilated ones in circulation.

« Apart from the L$100 bills in circulation, the bank is bringing in additional denominations of 20, 50, 500 and 1000 banknotes, » Kamara noted.

According to him, the bank is raising awareness across the country to acquaint citizens and residents with the designs and security features of the new Liberian banknotes.

The CBL has recently constructed and dedicated for the first time, a cash hub in Gbarnga, Bong County to respond to the monetary needs of people living in the central region.

Langston Joe Wilson, Maryland County Correspondent

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