Standard Bank Adds Southern Sudanese Pound to FX Product Capabilities
Standard Bank has added the 79th currency to its foreign exchange (FX) product suite – Southern Sudanese pound (SSP). This follows the news that South Sudan gained independence from Sudan on 9 July 2011.
Standard Bank is one of the only international banks offering this capability, and is seeing an increasing demand from the market for this capability.
Andrew Daley, managing director, head of corporate banking, Europe, Middle East and Africa (EMEA), Standard Bank, said: “The Sudanese economy is an exciting prospect for many of our clients, particularly as it is natural resources rich. The current climate in South Sudan is not without its challenges, however, Standard Bank is a leading player in the region and our clients look to us to navigate new markets and I am excited about our increasing capabilities in the region.”