Bank of South Sudan

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The Bank of South Sudan (B.O.S.S.) is the central bank of South Sudan. Established in 2005, it was a branch of the Bank of Sudan until 9 July 2011, when South Sudan seceded to become an independent republic.

Location

The bank is located in the city of Juba, the capital of South Sudan.

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 B.O.S.S. are: ^[1]

1. To function as the central bank of South Sudan.
2. 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 of B.O.S.S.
3. Management of B.O.S.S. is under the Governor of the B.O.S.S. who will manage the conventional banking system in South Sudan, according to prevailing rules, regulation and policies.
4. To act as the bank to the Government of South Sudan (G.O.S.S.), as an adviser and as an agent thereof in monetary and financial affairs.
5. 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 banking laws that govern B.O.S.S.
6. B.O.S.S. shall be in change of supervising and controlling the commercial banks, which are operated in South Sudan.

Management

The following are the principal officers of the BOSS: ^{[2] [3]}

1. Kornelio Koriom Mayiek - Governor of the B.O.S.S.
2. Mathiang Ajing Jupur - Director for Administration and Financial Affairs
3. Othom Rago Ajak - Director of Banking Operation and Foreign Exchange

Governors of B.O.S.S.

1. Elijah Malok Aleng (July - August 2011).
2. Kornelio Koriom Mayiek (August 2011 - Present).

In August 2011, South Sudan's President Salva Kiir dismissed Elijah Malok Aleng by presidential decree and replaced him by his deputy Kornelio Koriom Mayiek.^[4]

External links

See also

• South Sudanese Pound
• Sudanese Pound
• List of banks in South Sudan
• Economy of South Sudan
• List of central banks

References