Dr. Addis Ababa Othow, Governor of the Bank of South Sudan, and H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE inked the deal|Courtesy

The Bank of South Sudan and the Central Bank of the United Arab Emirates have signed a Memorandum of Understanding (MoU) to enhance cooperation in modern banking infrastructure and financial innovation.

The agreement, signed by Dr. Addis Ababa Othow, Governor of the Bank of South Sudan, and H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank of the UAE, aims to support the development of secure, efficient, and internationally compliant payment systems in South Sudan.

The signing was witnessed by South Sudan’s Vice President for Economic Cluster, Dr. Benjamin Bol Mel, and H.E. Sheikh Shakhbout bin Nahyan Al Nahyan, UAE Minister of State in the Ministry of Foreign Affairs.

According to a joint statement from both institutions, the agreement will pave the way for advanced systems to process payment card transactions, enhance financial inclusion, and support the growth of a modern financial sector in South Sudan.

The MoU also includes provisions for knowledge-sharing and capacity-building initiatives, aimed at equipping South Sudanese banking professionals with the technical skills needed to manage and regulate a competitive and secure financial environment.

Vice President Dr. Benjamin Bol Mel called the agreement a major step forward and urged both banks to move swiftly in implementation.

“The sooner we act, the sooner South Sudan becomes a capable hub for secure, modern financial services that benefit our citizens and economy,” he said during the signing ceremony.

Officials say the agreement was made possible under the leadership of President Salva Kiir Mayardit, whose visit to the UAE in June helped lay the diplomatic and technical groundwork for the partnership.

Once fully implemented, the cooperation is expected to improve transaction speed, strengthen consumer confidence, and open more opportunities for businesses to participate in the formal economy.