CBE Confirms Readiness to Strengthen Banking Capabilities of S. Sudan

A high-level delegation headed by the Deputy Governor of the Central Bank of Southern Sudan visited the Central Bank of Egypt (CBE) during the period from July 30 to August 3, within the framework of the memorandum of understanding (MoU) previously signed between the two banks in 2021.

Hassan Abdullah, Governor of the Central Bank of Egypt, during the reception of the delegation, which was accompanied by a group of World Bank experts, stressed full readiness to strengthen the regulatory and banking capabilities of South Sudan, and to transfer Egyptian experiences and expertise in the fields of bank control, various risk management, payment systems, financial inclusion, banking legislation and combatting money laundering and terrorist financing.

During the visit, the delegation toured many institutions and bodies related to the banking sector, including the Egyptian Banking Institute, where they discussed ways of cooperation in the fields of training, capacity development and qualification of banking cadres in South Sudan.

The delegation also visited the Anti-Money Laundering and Terrorism Financing Unit, where it was received by the Chairman of the Board of Trustees, who confirmed the readiness to provide the necessary expertise in the framework of cooperation and coordination with neighbouring countries.                             The delegation's tour also included the visit of Egypt Banks Company for Technological Advancement and the Egyptian Credit Inquiry Company I-SCORE.

The delegation also visited the Financial Supervisory Authority headquarters in the smart village, and got acquainted on the important role it plays in supervising the non-banking financial sector, stressing its welcome to strengthen cooperation mechanisms and transfer the necessary expertise and knowledge to colleagues in South Sudan.