CMA to provide its RTGS and CSD solutions to the Central Bank of Liberia within the scope of its West African Monetary Zone payment system modernization project.
Stockholm, March 20th, 2012. CMA announced today that Liberia will be the fourth country provided with CMA’s Real Time Gross Settlement (RTGS) and Scripless Security Settlement (SSS) systems in the West African Monetary Zone (WAMZ).
After the Central Bank of Liberia has joined the WAMZ, it became part of the project, which is being a part of the initiative of the Payment System Development program in the West African Monetary Institute (WAMI). Sponsored by the African Development Fund, it is part of WAMZ Developmental programme, which requires a robust payment and settlement systems to ensure the deepening of the region’s financial system.
Out of the 4 WAMZ members (those are now: Gambia, Sierra Leone, Guinea and Liberia) CMA’s solutions in Gambia are already in live mode. For the entire community, the new systems will allow to fulfill their regional and national objectives including: improvement of the financial intermediation efficiency, a better systemic risks management in the financial sector and an easier liquidity management which will ease monetary policy implementation.