South Sudan's English Daily Newspaper
"We Dare where others fear"
By Simon Deng
The Bank of South Sudan (BOSS) and the Central Bank of the United Arab Emirates have signed a Memorandum of Understanding to deepen cooperation in modern banking infrastructure and financial innovation.
The agreement was signed by Dr. Addis Ababa Othow, the Governor of the Bank of South Sudan, and H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE.
The agreement was witnessed by Vice President and Chairperson of the Economic Cluster, Dr. Benjamin Bol Mel and His Excellency Sheikh Shakhbout bin Nahyan Al Nahyan, Cabinet Member and Minister of State in the Ministry of Foreign Affairs.
“This MoU paves the way for advanced, secure, and efficient systems for switching and processing payment card transactions in South Sudan – safely, reliably, and fully aligned with international best practices,” said a statement posted on the Facebook page of the Office of the Vice President and Chairperson of the Economic Cluster.
“The cooperation also encompasses the exchange of knowledge and expertise, along with capacity-building initiatives to equip South Sudanese banking professionals with the technical skills required to manage and regulate a competitive, secure, and innovative financial sector,” it said.
Dr. Benjamin Bol Mel, the Vice President, urged both institutions to work swiftly towards a phase where South Sudan will stand as a fully capable hub for modern payment processing that will benefit businesses, consumers, and the broader economy.
This achievement was made possible under the guidance and leadership of H.E. President Salva Kiir Mayardit, whose visit to the United Arab Emirates in June this year laid the groundwork for such development.
“As it is implemented, the partnership will open doors to faster transactions, greater financial inclusion, and more opportunities for citizens to engage in the economy with confidence,” it said.
