scholarly journals The Impact of Central Bank of Liberia Guidelines on Inbound Money Transfers in Liberia (the Liberian Bank for Development & Investment 2016-2018)

2021 ◽  
Vol 7 (2) ◽  
pp. 33-37
Author(s):  
Jerome M. Kesselly
Keyword(s):  
Central Bank ◽  
Commercial Banks ◽  
Foreign Exchange Market ◽  
Foreign Affairs ◽  
Exchange Market ◽  
Money Transfer ◽  
The Republic ◽  
Money Transfers ◽  
Transfer Services ◽  
The Impact

The Central Bank of Liberia (CBL), according to its mandate under the Act of 1999 and its authority, in line with Section 55 and 39, on November 15, 2016, issue a regulation (No. CBL/RSD/004/2016) on payment of Inbound money transfers, which was ordered by former President of the Republic of Liberia, Madam Ellen Johnson Sirleaf, and the Minister of Foreign Affairs. The objective of this regulation was to support the effective management of the foreign exchange market. The regulation applies to all licensed financial institutions involved in money transfer services, such as Western Union and MoneyGram. The regulation did not apply to inbound money transfers that are made using recipient accounts at commercial banks. Conclusion: The theoretical framework presented in this research suggests that commercial banks, be precise, the Liberia Bank for Development and Investment (LBDI), are more likely to suffer a decrease in commission on inbound money transfers throughout the three years (3) of restrictions.

scholarly journals The Impact of The Pandemic on The Economy of The Republic of Uzbekistan

2021 ◽  
Vol 7 (1) ◽  
pp. 161
Author(s):  
Baykhonov Bahodirjon Tursunbaevich ◽  
Mullabayev Baxtiyarjon Bulturbayevich ◽  
Abdul Rahmat
Keyword(s):  
Foreign Exchange Market ◽  
Inflation Targeting ◽  
Gradual Transition ◽  
Exchange Market ◽  
Market Mechanisms ◽  
Budget Planning ◽  
The Republic ◽  
The Impact ◽  
State Enterprises

In recent years, a number of radical reforms aimed at liberalizing the socioeconomic spheres of the country have been consistently carried out. In particular, a number of reforms aimed at liberalizing the foreign exchange market, tax reform aimed at increasing incomes and stimulating production, the gradual transition to medium term budget planning, reducing the role of inflation targeting in the economy, gradual privatization of state enterprises and the introduction of market mechanisms continue.

Digital Ruble As an Element of the Digitalization of the Economy

2021 ◽  
pp. 22-28
Author(s):  
E. Myasnikova ◽  
L. Voskresenskaya
Keyword(s):  
Comparative Analysis ◽  
Central Bank ◽  
Commercial Banks ◽  
Central Banks ◽  
Digital Currency ◽  
Expert Assessments ◽  
Potential Risks ◽  
Excessive Load ◽  
Model C ◽  
The Impact

The article is devoted to the discussion of the prospect of issuing in Russia the digital currency of the Central Bank - the digital ruble. The properties and characteristics of the digital ruble, models of the functioning of the digital currency are considered. The place of the Central Bank in the process of functioning of the platform for the production of digital rudders shown. The main stages of development and implementation of the digital ruble are presented. Expert assessments of the possibilities and consequences of the introduction of the digital ruble are discussed. The impact of the digital ruble of the Central Bank on the financial system and the potential risks of introducing a digital currency are assessed. A comparative analysis of technologies for creating a digital ruble platform been carried out. The strategies of the central banks of various countries in creating models and mechanisms for issuing digital currencies into circulation are considered. Conclusions are made about the prospects for the introduction of the digital ruble in Russia. It noted that the problem of choosing the organization of the circulation of digital currency remains unresolved. Model C creates an excessive load of settlements on the Central Bank; Model D distributes the settlement load among commercial banks, which greatly increases the risks of clients – legal entities and individuals.

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