Bank of South Sudan warns public over counterfeit notes Article Comments (3) Email PrintSave --------------------------------------------------------------------------------
By Julius N. Uma March 9, 2011 (JUBA) – The Bank of Southern Sudan (BOSS) has issued a public notice warning the general population to beware of the existence of counterfeit one Sudanese Pound (SDG) notes currently circulating in the region. 1 SDG note. Photo credit: (www.bankofsouthernsudan.org) In the notice issued last week, Othom Rago Ajak, the bank’s director general says much as the notes presented to BOSS for verification were found to be genuine, members of the public should take note of the water line and a hidden flying bird inscribed on the notes as a security feature. “There is an alarm among the public that the one Sudanese Pound note has been subjected to counterfeiting. The notes which were presented to BOSS were found to be genuine. Therefore BOSS would like to allay the fears of the public that such counterfeit has not come to BOSS notice,” the bank’s notice says. Musa Abdulla, a taxi driver who works the Customs-Gudele route complained over the existence of the counterfeit notes, saying it has made business very difficult in the past few weeks. “On several occasions, we have to have to struggle with passengers who present notes which are not genuine. Others will tell you it’s the only money they have and we are left with no option, but to accept them,” he told Sudan Tribune. Another taxi driver, who only identified himself as Karim said the one SDG notes bearing “AG” series numbers were “the fake ones”. This distinction in serial numbers of the notes could not easily be verified. Meanwhile, BOSS has appealed to members of the public to alert security organs when they encounter individuals involved in counterfeiting. Formed in 2005 after South Sudan gained a high degree of autonomy in the Comprehensive Peace Agreement (CPA), BOSS licenses financial institutions operating in the region. It also regulates commercial banks in accordance with the rules and policies of the Central Bank of Sudan. The South runs a western style banking system as opposed the Islamic banking system that operates in the north. As part of the CPA the South voted to become independent in January and will secede in July, making BOSS a national central bank. In July last year, the bank closed down nine forex bureaus operating in Juba, the South Sudan capital, citing what it called “illegal” operations contrary to the policies of the country’s central bank. (ST) -- You received this message because you are subscribed to the Google Groups "JFD info" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/jfdinfo?hl=en.
