Bank of South Sudan headquarters in Jebel, Juba. (Photo: Eye Radio).

JUBA, South Sudan (Eye Radio) —The Bank of South Sudan has banned the hoarding of currency and commodities, warning that individuals, businesses, and financial institutions that violate the directive will face severe penalties, including fines, account freezes, and criminal prosecution.

In a circular issued on Tuesday, September 2, Governor Dr. Addis Ababa Othow stated that hoarding local and foreign currency outside the banking system creates an artificial scarcity, which destabilizes the exchange rate and fuels inflation.

The directive limits individuals to holding a maximum of 10,000 US dollars or its equivalent in South Sudan Pounds, with any amount above this threshold required to be deposited in a bank account.

The circular also prohibits deliberately withholding essential goods, such as gold and other precious metals, from the market in order to manipulate prices.

The Bank’s new rules require licensed financial institutions and forex agents to ensure transparency in all transactions, report suspicious accumulations of cash, and comply with anti-money laundering regulations.

Governor Othow warned that violators risk the seizure of assets, the revocation of licenses, and possible imprisonment.

The Bank, in collaboration with security agencies, will conduct regular market surveillance and publish sanctions against offenders. The circular takes immediate effect.