Home | News    Saturday 8 October 2016

S. Sudan Lakes state closes down accounts with Kenya bank

separation
increase
decrease
separation
separation

October 7, 2016 (RUMBEK) - Authorities in South Sudan’s Lakes state have instructed ministers operating government bank account with the Kenya Commercial Bank (KCB) to immediately close them down.

The state minister of finance, trade and industry, Daniel Gumwel Nhomabur, has confirmed receiving the new abrupt instruction from the national government in Juba.

No explanation was given to the state government about the decision by the national minister of finance and economic planning to close down the governments accounts with the KCB.

Minister Nhomabur further explained that the directive further said all government accounts are to be opened in the Ivory Bank with effect from October.

“We are told by national ministry of finance in Juba to close down all our government accounts [in] KCB [Kenya Commercial Bank]. These instructions are from top authorities in Juba and we have to respect them. All government institutions must open new bank accounts with Ivory Bank with effect [from] this month,” said the state finance minister, Nhomabur

However, KCB Rumbek’s branch manager, John Makoi Marial, said although the bank has received the notification to close down the government accounts, there was still a discussion going on to resolve the matter.

He also revealed that the government has taken huge loans of money from the KCB and also some individual senior government officials took loans from the bank which they have not yet repaid.

The bank official further pointed out that the KCB management and the government will sort out the issues and instruction will be sent to entire KCB branches in South Sudan on how to operate if the government decided to close down their accounts in the bank.

KCB is one of the first foreign banks to establish their branches in South Sudan even before the country became independent in July 2011. It has opened many branches in different states in the young country.

It was unclear what prompted the government to decide to close down its accounts with the Kenya bank.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 8 October 2016 06:24, by Eastern

    The kleptocrats think by hiding their loot in the obscure Ivory Bank, they will escape the wrath of the looming economics sanctions that banks like KCB which are already under scrutiny won’t protect them. What a futile yet desperate attempt!!!!

    repondre message

    • 8 October 2016 10:07, by Midit Mitot

      KCB is the most corruption Bank in South Sudan, let them go back to their unclean country.

      repondre message

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


A new approach to peace 2018-04-23 06:16:35 By Miroslav Laják When the United Nations was created, its founders envisioned a different kind of world. A world in which disputes were resolved in meeting rooms and not battlefields. A world (...)

Bring Sudanese troops home now 2018-04-21 15:25:57 By Salah Shuaib The Sudanese troops fighting hard now in Yemen, who were sent there by order of al-Bashir, should return home. The process of implementing this task is much challenging. But, we (...)

Dissolution and formation of the Cabinet - 2013 2018-04-20 08:00:00 Amb Telar Deng The events that led to the 2013 dissolution of cabinet can be traced back to the deep mistrust that fermented back in 1991 when leaders failed to close ranks. After the 1991 (...)


MORE






Latest Press Releases


Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan 2018-04-22 10:01:20 UN Secretary-General, New York African Union Commission, Addis Ababa UN High Commissioner for Human Rights, Geneva Petition on the Deteriorating Human Rights and Humanitarian Situation in Sudan (...)

Abyei celebrates Mine Awareness Day 2018-04-05 08:52:03 4 April 2018 | Abyei - The United Nations Interim Security Force for Abyei (UNISFA) and the United Nations Mine Action Service (UNMAS) commemorated the International Day for Mine Awareness and (...)

Appeal for forgiveness and pardon of John Agou Wuoi 2018-03-07 08:28:08 H.E. Salva Kiir Mayardit, President and Commander-in-Chief, of the Sudan People's Liberation Army (SPLA), Republic of South Sudan (RSS), 5th February, 2018. Through: Hon. Michael Makuei Lueth (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.