Bank of South Sudan bans hoarding of currency, commodities

Central Bank warns against hoarding of currency

In a circular describing two hoarding illegalities, BoSS says the directive seeks to curb speculative practices that destabilize the foreign exchange and goods markets By Aguok Chok The Bank of South Sudan (BoSS) has issued a stern warning against hoarding of currency and vowed to prosecute the perpetrators. In a circular issued on Wednesday, Dr. Addis Ababa Othow, the Bank’s Governor, said, “The Bank of South Sudan (BoSS), in exercise of its st…

Bank of South Sudan bans hoarding of currency, commodities

JUBA, South Sudan (Eye Radio) —The Bank of South Sudan has banned the hoarding of currency and commodities, warning that individuals, businesses, and financial institutions that violate the directive will face severe penalties, including fines, account freezes, and criminal prosecution. In a circular issued on Tuesday, September 2, Governor Dr. Addis Ababa Othow stated that hoarding local and foreign currency outside the banking system creates a…