The Central Bank of Liberia (CBL) has strongly refuted recent media claims suggesting that two of the nation’s leading financial institutions are on the brink of collapse.
In a press release issued today, the CBL labeled the publication titled “Broke Banks?” as not only unfounded but also a serious threat to public confidence in the country’s banking sector.
The CBL expressed deep concern over what it described as reckless journalism that fails to reflect the true state of the Liberian banking system.
The Bank asserted that such misleading reports could have far-reaching negative consequences, potentially eroding the trust and stability that have been painstakingly built over the years.
According to the CBL, the financial health of Liberia’s banks remains robust, with both liquidity and capital reserves well above the regulatory requirements set by the Central Bank.
The CBL emphasized that all banks under its supervision are in full compliance with the capital and liquidity thresholds, underscoring their financial strength and resilience.
The Central Bank further reassured the public that it remains fully committed to protecting depositors’ funds and maintaining the integrity of the banking system.
The Bank stressed that it continuously monitors financial institutions to ensure they adhere to stringent regulatory standards designed to safeguard the economy.
In its statement, the CBL also called on the media to exercise greater responsibility in their reporting, urging journalists to seek clarification and verification directly from the Central Bank before publishing information that could jeopardize financial stability.
The Bank highlighted the importance of accurate and balanced reporting, particularly when it comes to matters as sensitive as the financial sector.
The CBL concluded by urging the public to disregard the misinformation circulated by the recent publication and to rely on verified sources for accurate information regarding the state of Liberia’s banking system.
The Bank reaffirmed its dedication to transparency and its ongoing efforts to ensure price and financial sector stability, which are crucial for the nation’s economic well-being.
This strong rebuke from the CBL serves as a reminder that misinformation in the financial sector can have serious implications, and underscores the need for responsible journalism that upholds the public interest.
