South Sudan is establishing a central bank to issue and regulate a new currency, and to supervise payment systems and financial firms. The provisions of the law that establish and regulate the new central bank are critically important for how well it contributes to the economic development and well being of the new country. This note explores for discussion the key issues covered in a central bank law relating to its objectives for its currency, its independence for pursuing those objectives, and the governance structure under which it operations to maximize its commitments to those objectives.