19 February 2018

Sudan: CBOs Develops New Controls to Enable Banks to Deal With Their Counterparts Abroad

Khartoum — The Central Bank of Sudan's (CBoS) Assistant Governor for the Financial Institutions and Systems Sector Awad Ali Abdullah Abu Shuk said that CBoS has set new controls, following the partial lifting of the economic sanctions imposed on Sudan, to enable Sudanese banks to deal with their foreign counterparts.

This came during his speech Monday at the opening session of the Forum on the Requirements for Dealing with Correspondent Banks, which was organized by the Union of Sudanese Banks and the Union of Arab Banks under the auspices of the Central Bank of Sudan at Al-Salam Rotana Hotel Rotana.

Abu Shuk said the central bank aims at encouragement of exports, increase of competitiveness in new markets and creation of conducive environment for the entry of investors in the fields of production and exports.

The CBoS Assistant Governor urged the banks to complete dealing with the international banks, stressing the importance of removing barriers preventing benefiting from the payment systems and Arabic and non-Arabic facilities.

The Secretary General of the Union of Arab Banks Wisam Hassan Fattouh underlined partnership between the public and private banks to finance small and medium enterprises and to create jobs for youth to fight unemployment.

Fattouh pointed out that the governments and Arab Central Banks should encourage the spirit of action to combat unemployment, hoping that banks will encourage the financing of some projects for the of society development.


Bashir Receives the Head of Oman Supreme Court

The President of the Republic, Omar Bashir, on Thursday received the head of the Omani Supreme Court, Dr Ishaag Bin… Read more »

Copyright © 2018 Sudan News Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.