17th February 2025
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BoSS launches electronic inter-bank trading system

Author: Lasuba Memo | Published: August 23, 2024

The Bank of South Sudan is encouraging all commercial and retail banks to acquire a newly launched electronic inter-bank trading platform known as Refinitiv that aims to transition the sector from manual operation to digital transactions.

With over 40,000 customers and 400,000 end users across approximately 190 markets, the system is dubbed as a partner to the global financial community and redefining the future of data in financial services.

It is said to enables customers draw crucial insights through data, feeds, analytics, AI and workflow solutions.

In a statement dated 22 August, the financial regulator said the system began operation  since 31, July, 2024.    

Being implemented in collaboration with the Refinitiv, a part of the London Stock Exchange Group, it aims to transition the South Sudan banking sector from its current manual operational workflow to a fully-fledged electronic process

The Central Bank said this transition has “come at a crucial time when the digitization of financial ecosystem accelerates globally, aimed to drive efficiency and enhancing financial inclusion”.

It said this will streamline processes, drive efficiency, reduce risks, and enhance transparency, hence “benefiting the entire financial community and position South Sudan as a competitive player on the international financial stage.”

The Bank has expressed commitment to support the development of robust financial infrastructure in line with the other emerging markets and ensuring sustainable economic growth and integration into the global economy.

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