The Bank of South Sudan (BoSS) has ordered all licensed commercial banks to connect to the South Sudan Interbank Payment and Settlement System (SSIPSS) by January 31, 2026, or face a fine of $100,000. The directive was issued on November 4, 2025, by Governor Dr. Addi Ababa Othow, following the system’s official launch on October 10.
According to BoSS, the move aims to strengthen efficiency, security, and interoperability in the country’s financial sector. “The SSIPSS represents a significant milestone in strengthening the efficiency, security, and stability of the national payment infrastructure,” Dr. Othow said in the circular.
So far, 13 commercial banks have already joined the platform, which allows real-time and bulk transactions between financial institutions, government agencies, and private businesses. The governor stated that the new system is a crucial step toward building a modern, transparent financial ecosystem that supports South Sudan’s economic growth and transition to a cash-lite economy.
The order, issued under Section 12(1) of the Bank of South Sudan Act (2011, amended 2023), makes participation in the SSIPSS mandatory for every licensed bank. Dr. Othow said full participation will help ensure “a modern, efficient, and interoperable national payments ecosystem” that supports innovation and financial inclusion across the country.
Banks that fail to comply by the January deadline will face strict sanctions. The circular warned of a late-connection penalty of $100,000 or its equivalent in South Sudanese Pounds, with the possibility of additional regulatory measures for persistent non-compliance. “Persistent failure to comply may result in additional regulatory penalties, including restrictions on participation in certain interbank operations,” the document stated. The Bank of South Sudan also reserved the right to publicly name institutions that do not meet the deadline.
Dr. Othow encouraged all banks to treat the directive as a top priority, assuring them that the central bank will offer full technical assistance during the transition. “The Bank remains committed to supporting all financial institutions during the onboarding process,” he said. He also advised banks to coordinate closely with the National Payment Systems Department for guidance and implementation support.
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The SSIPSS, launched barely a month earlier, is part of BoSS’s broader digital modernization strategy. The system aims to simplify local and cross-border payments, reduce operational risks, and promote confidence in digital banking. Industry observers believe the initiative could pave the way for future integration with regional payment networks in East Africa.
Experts have welcomed the directive as a positive move toward aligning South Sudan’s financial infrastructure with international standards. Financial analyst Peter Lado, speaking to local media, said the policy “will enhance accountability and improve settlement times between banks, which is vital for economic stability.”
For BoSS, the next few months will be crucial as it monitors compliance and supports remaining banks through the onboarding process. The governor concluded by urging cooperation across the sector: “All commercial banks are therefore urged to give this directive utmost priority and ensure full compliance within the specified timeframe.”
If successfully implemented, the interbank system could mark a turning point for South Sudan’s financial landscape, offering citizens faster, safer, and more transparent payment options across the country.
