In the name of Allah, the Most Gracious, the Most Merciful
Central Bank of Sudan
Press Release No. (4)
As part of its oversight of the banking sector and coordination with the Ministry of Finance and Economic Planning, the Central Bank of Sudan has continued its efforts, which have resulted in significant progress in restoring the banking systems of the Central Bank and a number of commercial banks. The past period also witnessed active efforts by the management of several banks to resume operations through their branches in the states. Meanwhile, intensive coordination and communication between the Central Bank and the Ministry of Finance and Economic Planning has continued to address the challenges caused by the exceptional circumstances facing the country. These efforts have been necessary to strengthen policies that meet the needs of the various economic sectors, support the national economy, and consistently pursue the objectives of monetary policy, namely reducing inflation and stabilizing the exchange rate.
In continuation of the steps taken to sustain and stabilize the banking sector, the following efforts were made by the Central Bank in recent days:
Connecting 22 banks to the network following the successful restoration of the Central Bank’s banking system, thereby ending reliance on paper-based operations. System data was recovered, applications reactivated, and operations resumed across all active Central Bank branches in the states. The Bank is also following up with commercial banks to ensure readiness for launching the electronic clearing system once all technical and banking arrangements are complete.
Completion of preparations to launch the SWIFT system after ensuring all banking arrangements were finalized. Necessary tests were conducted, confirming its technical readiness.
Resumption of electronic applications for several banks, including Omdurman National Bank, Bank of Khartoum, Faisal Islamic Bank, and Bank of the Nile. The Central Bank is also monitoring the efforts of other banks that use private switches to restore their electronic applications.
Increase in the number of bank branches reopened in states unaffected by the conflict, reaching 296 active branches during this week. The Crisis Management Committee of the Central Bank, chaired by the Governor, along with emergency committees at various levels, continues its efforts to ensure the full resumption of banking operations nationwide.
Measures to curb the unjustified depreciation of the national currency against foreign currencies will soon be introduced. These will include a package of policies related to imports and transfers through banking applications, in coordination with the Ministry of Finance and Economic Planning, the Ministry of Trade, and the Sudan Customs Authority.
Resumption of communication with international organizations that have commitments with the Microfinance Unit, such as the Alliance for Financial Inclusion (AFI) and AFRACA, to follow up on ongoing programs.
Continuation of gold purchasing operations by Central Bank committees at its branches, covering government gold and concession companies’ gold.
The Central Bank of Sudan will continue to provide the public with all information related to its banking policies, as well as its coordination with banking and governmental entities, in order to overcome all obstacles facing the banking sector and the national economy, with the goal of achieving full restoration of banking operations.
Media Office – Central Bank of Sudan
Thursday, 20 July 2023
