The Central Bank of the United Arab Emirates (UAE) and the Bank of South Sudan have signed a memorandum of understanding to strengthen cooperation in payments infrastructure and security printing.
The deal was sealed in Abu Dhabi, witnessed by South Sudan’s Vice President for Economic Cluster, Dr. Benjamin Bol Mel, and UAE Minister of State for Foreign Affairs, Sheikh Shakhbout bin Nahyan Al Nahyan.
Governor Dr. Addis Ababa Othow signed for the Bank of South Sudan, while Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations at the UAE Central Bank, signed on behalf of his institution.
The agreement will see the two countries collaborate on advanced, secure systems for processing payment card transactions, develop expertise in security printing, and run capacity-building programs to enhance the skills of South Sudanese banking professionals.
Dr. Bol Mel hailed the pact as a “significant milestone” towards building a competitive, secure, and innovative financial sector in South Sudan, crediting President Salva Kiir Mayardit’s June visit to the UAE for laying the groundwork.
Officials say the cooperation will accelerate financial inclusion, enable faster transactions, and boost public trust in the country’s banking system, marking a pivotal step in South Sudan’s economic modernization.
