18 Sep 2018

 

Central Bank Launches 4 Year Strategic Plan To Improve Financial System

The Central Bank of South Sudan today launched a four year strategic plan aimed to reform the economy of the country by 2022.

Central Bank Launches 4 Year Strategic Plan To Improve Financial System

By Charles Kay

JUBA, 15 March 2018 [Gurtong]-
The plan is expected to help in banking activities among others explore initiatives to achieve efficiency gains in all the work processes.

In attendance during the launch were, the First Vice President, Taban Deng Gai, Vice president, Dr. James Wani Iga, TNLA Speaker, Anthony Lino Makana, Governor of South Sudan bank, Rago Othom Ajak among other dignitaries.

Governor of the bank of South Sudan Ajak, says the plan is aspiring to foster and ensure price and financial stability, through excellent regulatory frameworks.

He added that one way to achieve the objectives is by promoting transparency, accountability, professionalism and efficiency.

“In this strategic plan, we have clearly identified strategic focus area to underscore our commitment to peruse excellence in discharging our mandate. These are regulatory excellence, operational excellence, service excellence, institutional transformation and strategic partnership,” Othom Rago Ajak said.

The First Vice President during his remarks urged central bank to cooperate with the country’s institutions as it can effectively assist in the implementation of the strategic plan.

He urged the central bank to recruit members from the national institutions and universities.

“I should reiterate that gone are the days when recruitment was done for the sake of accommodation, time for closeness or sister or brother is gone,” said Taban Deng.
Meanwhile, Dr. James Wani Iga, South Sudan’s Vice President called for the independence of the bank to allow it to operate freely.

“To what extent do we interfere in the function of the central bank, there are many definitions of independence, In both theory and practice? Partial independence is one and we can adopt that.”

This is the first-time central bank is launching such a strategic plan since its establishment as an independent national financial institution from Sudan central bank.
 

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