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General Directorate of Banking Supervision
Preventive Supervision Department
Banking Services Consumer Protection Section

Educational Bulletin for the Public on the Principles of Financial Consumer Protection

In line with global principles and standards for financial consumer protection, the Central Bank of Sudan is always keen to ensure that banking system clients receive financial services of high quality and full transparency, while providing them with protection through receiving complaints, studying them, and deciding on them.

The Bank also ensures that all financial institutions providing similar services adhere to the minimum standards of dealing with clients, treating them fairly, transparently, honestly, and with integrity. Institutions must refrain from practices that may harm customers or undermine public confidence in dealing with them.

Banking system clients may resort to the Central Bank of Sudan in case of any complaint against any bank or non-bank financial institution they deal with, by directing their grievances to this section, which will:

  • Receive complaints from bank and financial institution clients under the Central Bank’s supervision.

  • Address the institutions complained against with complaint details.

  • Examine and decide on the complaint after completing the necessary information.

  • Notify the complainant of the results.

⚠️ Note: The section does not consider complaints that have already been filed in court or with judicial authorities.

To reduce financial risks, banks and financial institutions providing financial services must:

  • Understand the nature of new products.

  • Keep up with modern banking and financial industry developments.

  • Apply due diligence toward clients and the ultimate beneficiary of any transaction.

  • Choose successful projects for financing.

  • Borrow within capacity.

  • Avoid fictitious transactions.

  • Adhere to Sharia and banking regulations for executed transactions.

They must also abide by the financial consumer protection principles developed by the G20, which include:

  1. Fair and equitable treatment – Banks must deal fairly, honestly, and equitably with clients throughout the relationship, making it part of the bank’s culture. Special attention should be given to vulnerable groups such as people with special needs, the elderly, and those with limited income or education.

  2. Disclosure and transparency – Banks must update product and service information so that it is clear, concise, accurate, accessible, and not misleading, especially regarding terms, rights, responsibilities, fees, commissions, penalties, and risks.

  3. Financial education and awareness – Banks should develop programs to enhance customer knowledge, help them understand risks, and make informed decisions. Employees should also be trained as the first line of client education.

  4. Business conduct and ethics – Banks must act professionally in the best interest of clients throughout the relationship.

  5. Fraud protection – Banks should safeguard customer deposits and assets with robust monitoring systems to prevent fraud, embezzlement, or misuse.

  6. Data privacy protection – Banks must apply strict data privacy and security measures, define data collection purposes, and enforce penalties for breaches.

  7. Complaint handling – Banks must provide fair, clear, and effective complaint mechanisms, with independent oversight, in line with Central Bank directives.

  8. Competition – Clients should have the ability to compare services and providers easily and switch between them at reasonable cost.

  9. Third parties – Banks must ensure that outsourced parties comply with consumer protection standards.

  10. Conflict of interest – Banks must have written conflict of interest policies and disclose potential conflicts with third parties.

Dear Client, when dealing with banks, please adhere to the following:

  • Your bank is your financial advisor; ask about anything unclear.

  • Be honest and accurate when providing information or filling forms.

  • Read all information carefully and understand your obligations.

  • Ask questions about unclear terms or conditions.

  • Familiarize yourself with Sharia guidelines governing the service/product.

  • Use services/products according to the terms.

  • Choose products that match your financial situation.

  • Report any suspicious or unauthorized account activities immediately.

  • Do not share your account details or PIN with anyone.

  • Consult your bank if facing financial difficulties.

  • Update your information when requested by the bank.

  • Be cautious when granting power of attorney.

  • Never sign incomplete or blank documents.

  • Keep signed copies of contracts and documents safely.

  • Always get deposit slips for account deposits.

  • Return your checkbook when closing your account.

  • Keep your banking and personal data confidential.

  • Do not disclose PINs or misuse ATM cards.

  • Use ATMs and cards only at secure, reputable locations.

  • Do not write your PIN on your card; memorize or store it securely.

  • In case of lost ATM card or checkbook, file a report immediately and notify your bank.

  • Exercise caution when using the internet; never provide account information unless sure of the website’s reliability.

General Directorate of Banking Supervision
Central Bank of Sudan
February 2023