Bank of South Sudan
{{Short description|Central Bank of South Sudan}}
{{Infobox Central bank
| bank_name_in_local =
| image =
| image_title_1 =
| image_2 =
| image_title_2 =
| logo = Bank of South Sudan logo.png
| logo_size = 120px
| ownership = 100% state ownership{{cite web |last1=Weidner |first1=Jan |title=The Organisation and Structure of Central Banks |url=https://d-nb.info/1138787981/34 |website=Katalog der Deutschen Nationalbibliothek|year=2017|format=PDF}}
| headquarters = Plot No. 1, Block D 6, Juba Market, Juba, South Sudan{{Cite web |title=Multilateral Investment Guarantee Agency - Governors and Alternates |url=http://pubdocs.worldbank.org/en/918571541108839939/MIGAGovernors.pdf}}
| president = Johnny Ohisa
| leader_title = Governor
| bank_of = South Sudan
| currency = South Sudanese Pound
| currency_iso = SSP
| borrowing_rate =
| deposit_rate =
| website = {{URL|www.boss.gov.ss}}
| footnotes = |
}}
The Bank of South Sudan (BoSS) is the central bank of the Republic of South Sudan. Established in July 2011, by an Act of Parliament (The Bank of South Sudan Act, 2011), it replaced the now defunct Bank of Southern Sudan, a former branch of the Bank of Sudan,{{cite web|url=http://english.ahram.org.eg/NewsContent/3/12/19029/Business/Economy/South-Sudan-central-bank-governor-replaced-by-depu.aspx |title=South Sudan central bank governor replaced by deputy - Economy - Business - Ahram Online |publisher=English.ahram.org.eg |date=2011-08-16 |accessdate=2013-01-27}} which had served as the central bank of South Sudan, during the period between February 2005 until July 2011. The bank is fully owned by the Government of South Sudan.{{cite web |url=http://wireupdate.com/wires/18835/south-sudan-establishes-central-bank-as-it-receives-its-new-currency/ |title=South Sudan establishes Central Bank as it receives its new currency » Breaking News | Wire Update News | News Wires |publisher=Wireupdate.com |date=2011-07-15 |accessdate=2013-01-27 |archive-url=https://web.archive.org/web/20130731184824/http://wireupdate.com/wires/18835/south-sudan-establishes-central-bank-as-it-receives-its-new-currency/ |archive-date=2013-07-31 |url-status=dead }}
Agreements and Memorandums
The Bank of South Sudan and Ministry of Finance and Planning have signed a Memorandum of understanding to improve liquidity and operational cash management by reducing dependency on physical cash and promoting digital transactions.Eye Radio
The document was signed by Central Bank's 1st Deputy Governor Samuel Yanga Mikaya and Finance's 1st Undersecretary Malual Tap Dieu.
Location
Organization and Governance
The Bank of South Sudan is the central bank of the Republic of South Sudan. It is headed by the Governor of the Bank of South Sudan. The Bank is the only institution that is constitutionally mandated to issue the South Sudanese pound.
Duties
The main functions of the Bank of South Sudan are:
- To function as the central bank of South Sudan.
- To establish and supervise conventional banking services in South Sudan including licenses to financial institutions according to rules and regulations issued by the board of directors.
- The management of the bank is under the Governor of the Bank of South Sudan, who will manage the conventional banking system in South Sudan according to prevailing rules, regulation and policies.
- To act as the bank to the Government of South Sudan, as an adviser and agent thereof in monetary and financial affairs.
- In the discharge of the duties, responsibilities and mandates thereby required and imposed upon it, to exercise the power and supervisory authority so conferred, in a manner consistent with the ordinances and regulations stipulated in the laws that govern the bank.
- The Bank of South Sudan shall be in charge of supervising and regulating commercial banks in South Sudan.
Management
=Governors of the Bank of South Sudan=
The Governors are appointed by the President of South Sudan.
| class="wikitable" |
| Name
! Took office ! Left office ! |
|---|
| Elijah Malok Aleng
|July 2005 |August 2011 |
| Kornelio Koriom Mayiek
|August 2011 |January 2017 | |
| Othom Rago Ajak
|January 2017 |May 2018 |
| Dier Tong Ngor
|May 2018 |January 2020 |
| Gamal Abdalla Wani
|January 2020 |November 2020 |
| Dier Tong Ngor
|November 2020 |January 2022 |
| Moses Makur Deng
|January 2022 |August 2022 |
| Johnny Ohisa
|August 2022 |October 2023 |
| James Alic Garang
|October 2023 |December 2024 |
| Johnny Ohisa
|December 2024 |Incumbent |
See also
References
{{reflist}}
{{Authority control}}
{{South Sudan topics}}
{{Central banks by country}}
Category:Government of South Sudan
Category:Banks established in 2011