(JUBA) – The Bank of South Sudan has signed a memorandum of understanding with the Central Bank of the United Arab Emirates to strengthen cooperation in security printing, payment card systems, and technical banking training, Emirates News Agency reported.
The agreement is part of a series of deals reportedly signed by Vice President Benjamin Bol Mel during his official visit to the UAE. Bol departed South Sudan on Tuesday.
The MoU was signed by Dr. Addis Ababa Othow, Governor of the Bank of South Sudan, and Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the UAE Central Bank. The ceremony was witnessed by Vice President Bol and Sheikh Shakhbout bin Nahyan Al Nahyan, UAE Minister of State in the Ministry of Foreign Affairs.
Under the agreement, the UAE Central Bank will provide advanced solutions for security printing of South Sudanese banknotes through its subsidiary Omlat. Another subsidiary, Al Etihad Payments, will collaborate with the Bank of South Sudan to develop a national payment card system in two phases. The first phase will enable advanced switching and processing of domestic card transactions, while the second phase will establish local infrastructure to handle these transactions entirely within South Sudan.
The MoU also includes the exchange of expertise, technical support, and training for South Sudanese banking staff through the Emirates Institute of Finance.
Dr. Othow said the partnership would deepen economic ties between Juba and Abu Dhabi.
“We value the UAE’s world-class expertise in security printing and payment innovations, which will be key in modernising South Sudan’s financial services sector,” he said. “This cooperation will support our shared vision of advancing the banking sector in line with international standards, while strengthening economic and trade relations between our two countries.”
Khalid Mohammed Balama, Governor of the UAE Central Bank, said the agreement reflects a commitment to building strategic partnerships with South Sudan and supporting its banking development through knowledge sharing and technical assistance.
Planned Payment System Investment
| Item | Description | Notes |
|---|---|---|
| Banknote Security | Advanced printing technology via Omlat | Improves anti-counterfeit measures |
| Payment Card System Phase 1 | Domestic card transaction switching and processing | Immediate efficiency improvements |
| Payment Card System Phase 2 | Local transaction processing infrastructure | Long-term independence in payments |
| Staff Training | Technical support and skills via Emirates Institute of Finance | Builds local expertise |
