Monrovia – Minister of Finance and Development Planning, Boima Kamara, has encouraged local banks to get involved in the practice of electronic banking as it helps to minimize currency circulation in the country.
Speaking during the official launch of four new ATM machines by the Liberia Bank for Development and Investment (LBDI), Minister Kamara said the more cashless the society becomes, the stronger the impact of its monetary policy on liquidity.
“I appreciate the fact that you have a goal of going beyond and thanks for taking this program to Grand Gedeh,” he said.
“So we believe that today’s ribbon cutting will go to the height of extending the frontier that we are looking forward to in the context to a payment system that says let’s move faster toward a more cashless society.”
For his part Mr. John B.S. Davies, President of LBDI, said though the ATM system is nothing new in the world of banking, he was glad that at long last they were able to pull it off.
“The ATM at which we are cutting the ribbon is one of four ATMs in the LBDI network.
The other three are located on Randall Street, Gardinersville and in the Harbel area.
It also highlights the commencement of other business process which will see many more ATMs being commissioned and put in service as we strive to provide more avenue and channels for customers to carry out banking services.
“We can only assure our customers that partnership with NOBLE Liberia is poised to provide more delivery to our customers.
These ATMs have been synchronized with the national payment system of the Central Bank so they can also accept cards from all banks on the payment system network,” Davis said.
He said customers of other banks with ATM cards are welcomed to use any of the LBDI ATM machines.
“If you are a visa customer of Eco Bank, UBA, GT Bank that is on ATM you certainly can use our system in keeping with the national payment system and your local bank account relationship.”
He disclosed that as the bank rolls up the four ATMs, the fifth one will shortly be opened in Zwedru Grand, Gedeh County, anticipating that they would have ten ATMs up and running before the year ends.
“Liberians must get used to the fact that as the dynamics of banking unfolds on a day to day basis, we must find available options and channel to provide service to our people.”