Moses Makur, Central Bank Governor speaking to media in Juba - Photo: Lou Nelson/Eye Radio - 11th Jan. 2022.

The Bank of South Sudan has warned of harsh measures against foreign banks reportedly violating the 2012 Act that provides for 90 percent job opportunities to South Sudanese.

The Governor, Moses Makur Deng said his office has learned that some foreign banking institutions are operating outside the banking act.

He made the remarks during the inauguration of the national Bank of Egypt in Juba yesterday.

“We know that some banks are not observing it but they must observe it. That is the law it has to be observed, so that percentage (90%) must be observed,” he said.

Makur did not specify which banks are disregarding the law, and the kind of punitive measures.

“We urged all banks that are licensed in South Sudan to carefully follow the law regarding banking sector in South Sudan that is the most requirement, the third thing you comply with is employment ratios,” he said.

The 2012 banking agreement provides that foreign owned banks’ employment structure must be 90 per cent South Sudanese.

Makur cautioned the defiant banks against violation of the banking act.

“We will not accept these disparities to happen again, we are going to make very harsh measures with those banks that have been violating this for a long time,” he warned.

South Sudan has more than thirty licensed commercial banks.

Early this month, the Minister of Humanitarian Affairs Peter Mayen issued an order for the implementation of the 80 per cent employment rate for South Sudanese by humanitarian organizations.

Peter Mayen Majongdit issued the order to impose existing employment regulations provided in the national labour laws, on the humanitarian sector.

Mayen called on the national and international non-governmental organizations to abide by the order.