BOU signs pact with Bank of South Sudan

By Wilfred Sanya

Bank of Uganda (BOU) has signed a partnership with the Bank of South Sudan (BSS) to share financial experience between the two countries.

“With the signing of this partnership, BOU will provide all the support required by our brothers in South Sudan,” said BOU governor Tumusiime Mutebile on Friday in Kampala.

He added that the pact will give the two countries an opportunity to learn from each other.

“We will establish a frame work of mutual assistance and facilitate the exchange of information between BOU and BSS as they fulfill their regulatory and supervisory responsibilities” Mutebile noted.

BSS governor Kornelio Mayik said Bank of Uganda has been helpful to South Sudan since 2007, adding that the help is more vital now when the country is introducing a new currency.

“Our brothers in Sudan thought that after attaining our independence we were going to collapse, but we have received a lot of support from Uganda,” he said.

“With oil operations resuming, this partnership will be more helpful,” Mayik added.