BOSS warns against foreign banker’s monopoly

Moses Makur, Deng Governor Bank of South Sudan -File Photo

By Bida Elly David

The Bank of South Sudan has strongly warned foreign commercial banks over domination of comprehensive banking positions by foreigners.

The Governor of Central Bank, Moses Makur Deng has issued the warning in a press conference yesterday. He however called on foreigners to implement laws regarding recruitment of 90 percent nationals, into the employment sector as stated in the constitution.

Recently, the National Minister of labour reported dominance of most jobs in private sectors and organizations as well as businesses by foreigners leaving the domiciles to hang around with their skills and papers.

At the same note, cases concerning poor remuneration and salary discrimination among domestic and foreign employees serving the same positions have been alarming including sexual harassment of national female employees serving in most private sectors.

According to 2012 Banking Act, majority of positions in foreign banks are subjected to be dominated by 90% of nationals in comparison to foreign staff and other factors remained constant.

The banking ancient agreement provided that foreign owned Banks’ employment structure should bear consideration of the domicile based on their academic persuasion, but the policy was reciprocated by most foreign financial institutions operating in the country.

The Central Bank Governor was addressing media as they plan carryout currency auction.

Mr. Makur Deng reiterated numerous employment cheatings that most foreign commercial banks commit against the nationals.

“My office has come to notice that most foreign banks in South Sudan have exempted recruitment of most South Sudanese into the system and above all they have been operating out of the banking laws as stated in the Constitution. This act is seriously against the rights of the nationals in the country,” he said.

The official echoed that, the monopoly of most jobs by foreigners in the country has been the cause of cash outflow leaving the country in economic recession.

“Since most jobs are run by foreigners in the country, there has been serious cash outflow leaving the country with poor monetary policy. We shall make sure that jobs are dominated by South Sudanese as stated,” Makur asserted.

The government official stated that the constitution has clearly indicated 90% percent occupation of banking positions by South Sudanese, but most foreign commercial banks have disregarded what the Act says.

He directed most licensed Commercial Banks in the country to critically abide by the recruitment laws for the leading majority of the nationals as long as they meet the criteria for the positions through employment ratios.

“We are warning those banks to seriously implement the Act in regards to the recruitment of nationals in banking positions with the constitutional percentage of 90 percent of the population of experienced graduates,” he said.

The Governor stated that Central Bank in collaboration with the Ministry of labour shall make punitive measures against foreign commercial banks and other companies as well as organizations who shall not abide by the recruitment laws of South Sudan.

“Central Bank jointly with the Ministry of Labour strongly reject the employment corruption that exempts nationals from jobs. We are going to punish banks who shall not abide by the laws as stated in the constitution. South Sudanese deserved their rights” he said. 

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