Bank of South Sudan prohibits foreign exchange transactions with unauthorized persons and entities

The Bank of South Sudan (BoSS) has issued Circular No.2 to prohibit foreign exchange transactions with unauthorized persons and entities, emphasizing the need for compliance with the Foreign Exchange Business Act. Only licensed banks and foreign exchange bureaus are authorized to conduct foreign exchange transactions. The Circular mandates all entities in various sectors to ensure that they do not engage in transactions with unauthorized parties, and it details the types of transactions that are particularly of concern. The Bank calls for due diligence in verifying the licensing status of foreign exchange counterparties.

Bank of South Sudan prohibits foreign exchange transactions with unauthorized persons and entities