Regulations Concerning the Licensing and Operations of Electronic Payment Services in Liberia ii. iii. iv. v. 7.0 Minimum Liquidity ratio Satisfactory solvency, liquidity and profitability positions; Satisfactory CAMEL composite rating Has a sufficient capital to undertake the required investment in the electronic payment infrastructure (Hardware, Software, Communications etc.) MINIMUM REQUIREMENTS FOR PROVIDE PAYMENT SERVICES OTHER ENTITIES WILLING TO a) Entities which are not bank or non-bank financial institutions seeking to provide payment services, are required to submit to the Executive Governor of the Central Bank of Liberia an application signed by its managing director or chief executive officer for license to conduct such activities and a completed copy of the form attached as Appendix 4. b) Additionally, entities whose principal line of business is different from offering electronic payments services shall establish and register a subsidiary solely for becoming a Payment Service Provider. The application shall be accompanied with the following: i. ii. iii. iv. v. vi. vii. viii. ix. x. xi. xii. xiii. List of owners which should include beneficial owners and corporate affiliates and the respective values of their holdings; Physical address of Head Office, telephone number, fax Number, Website Address and Email Address; Registered Office and Address if different from (ii) above; A copy of board resolution authorizing the establishment of a subsidiary company for the provision or operations of e-payment services, if applicable; Articles of Incorporation; The name, curriculum vitae and police clearance of the directors and executive officers; Latest audited financial statement of Parent company, if any; Product or trading name; A certification or license issued by a re cogn ize d Information Communication Technology (ICT ) Cert if ica tion Authority or other regulatory agencies, if applicable; Draft Agreements entered with third parties including service level agreement; Details information on accounts held in banks in Liberia for the purpose of settlement of transactions, only. Measures to ensure confidentially of transaction of customers data. Business plan for the provision of e-payments indicating, at least: 8