Parliament Passes Agricultural Bank Act
The South Sudan National Assembly (SSNA) has passed the South Sudan Agricultural Bank Act 2012 after presentation by the Chairperson of the Committee of Economy, Finance and Development. 23 January 2013 A section of the national assembly during a past session. [Gurtong | File] By Waakhe Simon Wudu JUBA, 22 January 2013 [Gurtong] - Hon. Paul Logale in a statement shortly after the session exclusively explained to the press that, the bill will purposely provide a regulatory framework for establishment of an independent, autonomous and corporate body to provide financial and technical services to farmers and agricultural investors in South Sudan. The bank shall be under control and supervision of the Bank of South Sudan. Logale said one of its functions is to grant loans and provide credit services, receive deposits, provide technical services to individual or institutions operating in the field of agriculture. It shall also make investment in accordance with the law and request refunds of the bank loans from its debtors. He said the National Government shall own 60% shares of the capital and private sector owns 40%. However, some parliamentarians had proposed that the 60% share should be shared by the national and States governments, adding it is important for the states to have some shares in agricultural bank in order to help the local farmers get loans easily. Posted in: Home, Governance, Parliaments -- You received this message because you are subscribed to the Google Groups "South Sudan Info - The Kob" 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 https://groups.google.com/groups/opt_out.
