Talks have started in Liberia on establishing a stock exchange and the Central Bank of Liberia (www.cbl.org.lr) is set to play a leading role, according to CBL Executive Governor Dr. J. Mills Jones.
He was speaking in front of President Ellen Johnson Sirleaf at the opening of Sinkor Branch of the Liberian Bank for Development and Investment (LBDI).
He also said the CBL is ready to create an autonomous body to regulate the market. The law apparently exists for proper and orderly development of financial markets, and Dr Mills Jones said he was concerned over unregulated share sales corporate institutions. He was quoted in Liberian Observer (www.liberianobserver.com) as saying: “They might have good intentions, but [that] does not guarantee good results. There is a need to be circumspect in charting an orderly course towards a regulated capital market,” Jones stated.
He also said that Liberia has been admitted into the West African Monetary Zone (WAMZ).