The Governor of the Bank of South Sudan says the banking sector controls only twelve percent of money injected into circulation in the economy.
Cornelio Koriom Mayik says individuals control 88 percent of money outside banking system, Juba Monitor reports.
He says such huge percentage of money kept outside banking system is worrying.
Individual keeping of money is one of the causes of shortage of South Sudanese Pounds in circulation, Governor Koriom explains.
Some people withdraw huge money without depositing, he says.
Governor Koriom criticizes other government agencies for turning down Central Bank’s efforts to improve the economy.