A high-level South Sudanese delegation led by the Bank of South Sudan first deputy governor Addis Ababa Othow Akongdit paid a visit to the Central Bank of Egypt’s (CBE) headquarters in Cairo during the period from July 30 to August 3.
The visit is part a memorandum of understanding signed between the two central banks back to 2021.
Central bank governor Hassan Abdalla had received the delegation, which was accompanied by a group of World Bank experts. Abdalla emphasised on CBE’s complete readiness to support South Sudan’s supervisory and banking capabilities and to pass on Egypt’s experience in areas of banking supervision, various risk management, payment systems, financial inclusion, banking legislation, anti-money laundering, and combating the financing of terrorism.
The delegation’s visit included tours to many Egyptian banking institutions and entities, including the Egyptian Banking Institute (EBI), where officials discussed means of cooperation in areas of training, capacity development, boosting the banking cadres in South Sudan.
In addition, the delegation also visited the Egyptian Anti-Money Laundering and Combating the Financing of Terrorism (AML/CTF) Unit, where it was received and welcomed by the chairperson of its board of trustees.
The South Sudanese delegation visited the Egyptian Financial Regulatory Authority’s (FRA) headquarters in the Smart Village, where it was received by its chairperson Mohamed Farid, who explained the important role FRA plays in monitoring the non-banking financial sector. The tour also included visiting the headquarters of the Egyptian Banks Company (EBC) and the Egyptian Credit Bureau (I-Score).
