16 January 2013

Liberia: CBL Changes Banking Hours

In keeping with its statutory mandate, the Central Bank of Liberia (CBL) has changed the previous official banking hours for all commercial banks operating in the country.

Previously, commercial banks opened 8:30 am and closed by 4:00 pm, Monday – Friday and 9:00 am – 2:00 pm on Saturday.

But, in accordance with the new banking hours as mandated by the CBL, commercial banks are hence forth require to be open from  8:30 am – 3:00 pm, Monday – Friday and 9:00 – 1:00 pm on Saturday.

Some customers of the commercial banks, including Liberia bank for Development and Investment (LBDI) and Ecobank walked into the offices of The Analyst late Tuesday evening and expressed mixed feelings about the new regulation.

Some customers welcomed the new CBL regulation and expressed hope that commercial banks will improve on their customers' service.

Others frowned at the regulator for such decision which does not include their input, noting that there is a need for extension of banking hours and not reduction of service time at various commercial banks across Liberia.

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