Banking in South Sudan
Established by the Bank of South Sudan Act of 2011, the
Before independence
Prior to 9 July 2011, when
After independence
Once South Sudan became independent, the
Commercial banks
By independence day, the following commercial banks were operating in the country under license from the Central Bank of South Sudan:[6]
- Agricultural Bank of Sudan
- Buffalo Commercial Bank
- Commercial Bank of Ethiopia
- Equity Bank[7]
- Ivory Bank
- Kenya Commercial Bank
- Mountain Trade and Development Bank[8]
- Nile Commercial Bank
Bank supervision
Banking in the country is under supervision and regulation of South Sudan's
Banking Crisis
In April 2017, Reuters reported that banks were running out of cash and exacerbating famine in the war-torn nation.
“If you go to the commercial banks, you do not find South Sudan pounds and dollars. They are all in the black market,” said Deputy Minister Mou Ambrose Thiik. He said a parallel economy had emerged and people were hoarding cash. Black market rates have reached £150 SSP to the dollar, up from £105 SSP in mid-February.[10]
Microfinance institutions
No information is currently available about the operation of microfinance institutions in South Sudan.
Other financial institutions
There are
See also
References
- ^ "THE BANK OF SOUTH SUDAN IS RAPIDLY FACILITATING THE COLLAPSE OF COMMERCIAL BANKS IN SOUTH SUDAN". Nyamilipedia. Retrieved 29 November 2017.
- ^ Sudanese Currency Worth About US$700 Million Circulating In South Sudan In July 2011[permanent dead link]
- ^ "South and North Sudanese Get New Currency [PHOTOS]". International Business Times. 2011-07-19. Retrieved 2017-09-03.
- ^ "Jonglei receives new South Sudan currency - Sudan Tribune: Plural news and views on Sudan". www.sudantribune.com. Retrieved 2017-09-03.
- ^ "Account Suspended". www.goss.org. Archived from the original on 2007-12-17. Retrieved 2017-09-03.
- ^ List of Banks Authorized to Operate in South Sudan Archived 2010-09-29 at the Wayback Machine
- ^ Equity Bank Has Presence in South Sudan Archived July 22, 2011, at the Wayback Machine
- ^ Mountain Trade and Development Bank Established In 2010
- ^ Elijah Malok Was The First Governor of Central Bank of South Sudan Archived 2013-07-31 at the Wayback Machine
- ^ "South Sudanese banks run out of cash as conflict rages". Reuters. Retrieved 29 November 2017.