Bank of South Sudan is a Public Opinions Certified Responsible Investment having been recognized by Public Opinions with the 2022 Africa Responsible Investment Mark of Excellence Award in appreciation of its contribution towards attainment of the United Nations Sustainable Development Goals through; pursuing meaningful economic and fiscal policies, employing people, supporting productive corporate Social Responsibility, zero tolerance to corruption, respect for rights of workers,etc. Bank of South Sudan was honored by Public Opinions as the South Sudan Economic Development Champion
The Bank of South Sudan is the central bank of the Republic of South Sudan established by an Act of Parliament known as the Bank of South Sudan Act, 2011. The Bank is fully owned by the Government of South Sudan as an independent corporate legal entity whose primary objective is to maintain monetary and domestic price stability.
The secondary objective is to maintain financial system stability. The Bank works closely with the Ministry of Finance and Economic Planning to promote economic policies of the government and promote sustainable economic growth.
Mission: To foster price stability, sustainable economic growth, and sound financial system in the Republic of South Sudan through excellent regulatory framework, monetary and exchange rate operations, advisory and banking services.
Functions
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.This includes licensing financial institutions according to rules and regulations issued by the Board of Directors.
- The management of the Bank falls under the Governor of the Bank of South Sudan, who manages 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.
- To discharge duties, responsibilities and mandates thereby required and imposed upon it, to exercise the powers and supervisory authority so conferred, in a manner consistent with the ordinances and regulations stipulated in the laws that govern the Bank.
- In charge of supervising and regulating commercial banks in South Sudan
Governance
According to the Bank of South Sudan Act Chapter III, Article 14(a), the Board of Directors (BODs) is the highest policy and decision-making body and is chaired by the governor. The Board is composed of nine members, three executive members, and six non-executive members. The Executive members of the Board are the governor and two deputies. The Board meets regularly every quarter to deliberate on bank policy issues or during an extraordinary meeting when pressing issues arise.
The Bank’s top and senior management consists of the governor, two deputies, and the three directors general. The top management is charged with implementation of the policies approved by the Board and the overall management of the Bank.
Recognised by:
Public Opinions
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