Here is the article in markdown format:

Sudan: Financial Professionals Receive Compliancy Training as Bank Issues Regulatory Guidelines

The Bank of South Sudan has taken a significant step towards maintaining a stable financial sector by issuing comprehensive regulatory guidelines for financial professionals in the country. This move aims to ensure that all regulated entities adhere to the laws and regulations governing their operations.

Compliance Regulations: An Overview

Under the Bank of South Sudan Act, 2011, and other relevant legislation, the central bank has been empowered to issue various types of circulars to educate and inform regulated entities on compliance matters. These circulars can be broadly categorized into three main areas:

Informational Circulars

• Serve as a means for the Bank to clarify existing laws and regulations
• Facilitate understanding and adherence among financial institutions

Policy Guidelines

• Provide insight into how the central bank intends to exercise its functions under the Act
• Outline expectations for regulated entities in terms of business conduct

Prudential Guidelines

• Aim to prevent practices that could potentially compromise the stability of individual banks or the entire financial system
• Regulated entities are expected to adhere to these guidelines to avoid engaging in such practices

Promoting Transparency and Accountability

To ensure transparency and accountability, the Bank maintains a public register of all issued regulations and circulars. This move is intended to promote open communication between the central bank and regulated entities, ultimately contributing to a more stable and secure financial environment for Sudan’s citizens.