Central Bank of Liberia publishes quarterly update led by instant payment system launch and insurance reform plans

The Central Bank of Liberia has published the July-September 2025 edition of its official newsletter, with the lead update centered on the launch of the Inclusive Instant Payment System on Dec. 16. The new national platform is designed to enable interoperable, real-time digital payments, initially focusing on mobile money transfers between Lone Star MTN and Orange Liberia, and more broadly connecting banks, mobile money operators and other financial service providers for instant transfers across accounts and wallets. To support the rollout, the central bank signed participation and service level agreements with MTN Mobile Money, Orange Money and technical integrator Thitsa Works. The participation agreement, set for an initial three-year term with possible renewal, allocates responsibilities for settlement accounts in both USD and LRD, daily settlement, reporting, reconciliation and liquidity management, while the service level framework sets performance standards and penalties for late settlement, liquidity shortfalls and system downtime. The newsletter also outlines other policy work, including a nationwide clean note campaign, progress toward creating an independent insurance commission under a draft Insurance Commission Act, ongoing county-level financial education efforts, and expanded MSME finance programs under the LIFT project. The central bank said the rollout of IIPS services will continue after the official launch in partnership with participating banks and mobile money operators. On insurance reform, the newsletter states that passage of the Insurance Commission Act is anticipated before year-end, which would allow the current Insurance Department to transition into an independent commission by early 2026 if enacted.