The Central Bank of Liberia (CBL) and the Financial Intelligence Agency (FIA) have signed a joint directive imposing additional customer due diligence measures, significantly tightening regulatory oversight of high-risk clients, non-residents, and cross-border financial transactions. The directive, unveiled Monday, February 16, 2026, in Monrovia, introduces enhanced compliance requirements aimed at strengthening Liberia’s defenses against money laundering, terrorist financing, proliferation financing, and other illicit financial activities.
The move marks one of the most consequential regulatory reforms in Liberia’s financial sector in recent years. Speaking at the signing ceremony, CBL Executive Governor Henry F. Saamoi described the directive as a firm statement of shared commitment to protect the financial system and safeguard the stability of the nation’s economy.
Governor Saamoi emphasized that the increasing size and complexity of Liberia’s financial landscape, driven by expanding digital payments, cross-border remittances, and private sector growth, demand stronger safeguards and closer inter-agency coordination. According to him, under the new rules, financial institutions will be required to apply enhanced due diligence to non-residents and non-Liberians, particularly those categorized as high risk.
The directive, he said, mandates stricter beneficial ownership verification, deeper scrutiny of politically exposed persons (PEPs), strengthened monitoring of complex and unusual transactions, improved recordkeeping, and expanded regulatory reporting obligations. He also calls for greater collaboration between banks, mobile money operators, insurers, remittance service providers, and designated non-financial businesses and professions with supervisory and intelligence authorities.
Saamoi stressed that the directive aligns Liberia with international standards set by the Financial Action Task Force (FATF), reinforcing the country’s commitment to global Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) frameworks.
“This partnership is grounded in a shared vision, a financial system that is transparent, well-regulated, and capable of withstanding global scrutiny, commending the FIA’s leadership and the cooperation of financial institutions nationwide,” he narrated. The Joint Directive further commits both agencies to provide guidance, training, and technical support to regulated entities, while ensuring supervisory assessments remain risk-based, fair, and transparent. It also signals plans to modernize regulatory systems, enhance information-sharing mechanisms, and invest in technology to strengthen oversight capacity.
Governor Saamoi cautioned that safeguarding the financial system is not solely the responsibility of regulators, urging financial institutions to treat compliance as a professional culture rather than a procedural obligation. The directive takes immediate effect, with financial institutions expected to begin integrating the enhanced requirements into their compliance frameworks without delay.
