Nile Bank launches services to promote South Sudan development

Mar 8, 2006 (JUBA) — The Souhern Sudan government owned Nile Commercial Bank has officially launched a hire purchase scheme for its clientele.

Under the scheme, the bank buys products and supplies them to its clients who will then pay for the product, plus interest, in installments over a specified period of time.

The programme was officially launched last weekend at the Peace Square- commonly known as Buluk- in Juba. The bank handed over some commercial passenger vehicles and tipper lorries to several clients, who must now pay back the bank in installments.

Speaking to Sudan Radio Service after the launch of the scheme, the bank’s Chief Executive Officer, Aggrey Idri, said that the scheme is part of Nile Commercial Bank’s campaign to economically empower the poor.

Idri praised the launch of the bank’s hire purchase scheme as a tangible example of their commitment to making a difference to the people of southern Sudan.

Idri also says the bank will provide housing loans in a few months’ time.

(SRS/ST)