Monrovia, Liberia, August 15, 2024– The Acting Executive Governor of the Central Bank of Liberia (CBL), Henry F. Saamoi has met with the general staff of the CBL and outlined his vision to transform the Bank by developing talents, forging a team work culture, developing a new strategic plan and promoting transparency and accountability. The Acting Executive Governor made these remarks during an acquaintance meeting of the Acting Board of Governors with the general staff.
In his first general staff meeting, Friday, August 9, 2024, the Acting Executive Governor underscored the importance of building capacity and working together to achieve CBL’s core objectives of price and financial sector stability, financial inclusion, operational efficiency, and support for economic growth.
He announced he would immediately set up a committee to begin developing a comprehensive five-year strategic plan for the Bank.
“In the new strategic plan we intend to develop, we shall embrace innovation and leverage technology to enhance our mandates, foster decentralization of the Bank, and assure operational efficiency to promote value for money,” the Acting Executive Governor maintained.
He pledged to invest in cutting-edge digital platforms and explore new financial technologies that will revolutionize the way the Bank conducts its administration and operations, strengthens risk management and promote effective monetary policy transmission.
In driving CBL’s reform agenda, the Acting Executive Governor said he will further review the GAC audit reports of the CBL and other assessments to address the concerns raised in these reports to fast track CBL transformation.
Although he called for harnessing the power of collaboration and open communication with staff, he warned, CBL shall maintain its apolitical stance and adhere to the highest standards of integrity, accountability, and transparency.
“In the new strategic plan we intend to develop, we shall embrace innovation and leverage technology to enhance our mandates, foster decentralization of the Bank, and assure operational efficiency to promote value for money.” -- Acting Executive Governor Saamoi
During the meeting, the members of the Acting Board of Governors expressed their commitment to collaborate with the staff in positioning the CBL in achieving its core mandate of formulating and implementing monetary policy, promoting financial stability and economic growth.
The president of the CBL staff association, Madam Trokon Browne pledged the staff support to working with the new management and board to promote staff welfare and transform the Bank.
As part of their acquaintance engagements, the Acting Executive Governor and Board of Governors met with senior staff of the Bank, earlier, stressing the need for teamwork and mutual respect among senior staff in moving the Bank forward and rebranding it.
About the Central Bank of Liberia
The Central Bank of Liberia is the country’s central monetary authority responsible for formulating and implementing monetary policy, regulating and supervising the financial system, and managing the country’s foreign exchange reserves. It has three cardinal objectives: (1) To promote and maintain price stability, (2) contribute to financial stability and (3) support Government’s economic policy within the confine of its mandate.