September 18, 2024 (JUBA) – South Sudan’s Central Bank has launched a campaign seeking to move the country into cashless society, the head of the financial institution announced on Monday. James Alic Garang, the Central Bank governor said the initiative aims at discouraging movement with large cash amounts. The bank also seeks to limit the maximum amount of money one withdraws and carries in public. “The maximum limit for cash withdrawal across all channels by public institutions, government agencies, corporates, and individuals is SSP10 million. The public is urged to join the banking system by opening accounts to facilitate their receipts and payments or promote digitalization of financial services”, Garang told a news conference in the capital, Juba. The Central Bank governor urged commercial banks and mobile money operators to make account opening seamless, especially for those traditionally excluded, and encouraged South Sudanese to embrace electronic payment platforms, including mobile money and credit and debit cards. “There are people who think that if there are no cash in the hands, there is no money but we must educate them that cash does not have to be physical cash. It can in your computer. It can be on your phone.  It …

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