Liberia, Aug. 3 -- The Central Bank of Liberia (CBL) has licensed First Atlantic Bank Liberia Limited (FABLL) to operate as a commercial bank, increasing the number of commercial banks in the country to ten in what authorities describe as another milestone in the modernization and expansion of Liberia's financial sector.

Announcing the decision, CBL Executive Governor Henry F. Saamoi said the arrival of First Atlantic Bank reflects growing investor confidence in Liberia's banking industry and the country's broader economic prospects.

"This is a significant milestone in the continued development of Liberia's financial sector and a clear demonstration of confidence in our economy, our people, and our future," Governor Saamoi said.

He ch...