Digital Financial Inclusion and Payments Reforms

World Bank development-policy financing supported a set of Central Bank of Liberia reforms intended to broaden financial inclusion and digital payments. The Bank reported that the Payments Act was amended in 2021, digital-credit guidelines and consumer-protection measures were introduced, and regulatory obstacles to digital financial services were addressed. In September 2022, the World Bank said Liberia had already exceeded the National Financial Inclusion Strategy's objective of increasing access to formal financial services to 50 percent by 2024. The result reflects work by the independent Central Bank, Government institutions, financial-service providers and development partners; it is not presented as the achievement of one office alone.