Author: Lasuba Memo | Published: 3 hours ago
Photo Credit| Bank of South Sudan
The Bank of South Sudan (BoSS) is holding discussions with the Central Bank of the United Arab Emirates (UAE) on the introduction of a domestic card scheme, as part of efforts to modernize the country’s financial and payment systems.
According to a statement posted on the official Facebook page of the Bank of South Sudan, the three-day meeting in Juba focuses on advancing the implementation of a domestic card scheme for South Sudan, strengthening the national payment system, improving transaction efficiency and security, and expanding digital financial services.
The Director for National Payment System at the Bank of South Sudan, Mr. Akum David Sabhaker, said the engagement is expected to lead to the establishment and operation of a domestic card switch to strengthen the country’s financial infrastructure.
“This partnership will establish and operate a domestic card switch, which will enhance the national payment system and support sustainable economic growth,” Sabhaker said.
The discussions are a continuation of a Memorandum of Understanding (MoU) signed in August 2025 between the Bank of South Sudan and the Central Bank of the UAE to enhance cooperation in payment systems, security printing, and financial technology.
Under the MoU, the Central Bank of the UAE agreed to support South Sudan through innovative security printing solutions for banknotes via its subsidiary, Oumolat, and to assist in developing a domestic payment card system through Al Etihad Payments.
The agreement provides for a two-phase approach, with the first phase focusing on switching and processing payment card transactions within South Sudan in line with international standards, and the second phase aimed at developing local infrastructure to process card transactions domestically.
The MoU also includes the exchange of information and expertise, as well as technical support and training for Bank of South Sudan staff in banking supervision and monetary operations through programs offered by the Emirates Institute of Finance.
At the signing of the MoU in Abu Dhabi in August 2025, UAE Central Bank Governor Khaled Mohamed Balama said the agreement reflected a shared commitment to strengthening financial cooperation between the two countries.
“The Memorandum reflects our shared aspirations to meet the needs of the financial and banking sector in the Republic of South Sudan,” Balama said.
Former Bank of South Sudan Governor Dr. Addis Ababa Otto said the agreement would help deepen economic partnership and advance financial services in South Sudan.
“We value the UAE’s expertise in security printing and innovative solutions for local payment services, and we look forward to continued cooperation to strengthen South Sudan’s financial sector in line with international standards,” Dr. Otto said.
Officials say the current discussions in Juba are aimed at translating the August 2025 agreement into practical outcomes, including the rollout of a domestic card scheme.
