In the Name of Allah, the Most Gracious, the Most Merciful
Central Bank of Sudan
Press Release No. (6)
The Central Bank of Sudan continues its efforts to assess, mitigate, and address the impacts of the ongoing war in the country since 15 April 2023, in a way that ensures the recovery of banks and the stability of banking operations. Continuous monitoring and documentation are being carried out regarding the systematic looting, vandalism, and theft of funds and properties that banks have been subjected to since the outbreak of the conflict.
Despite the current crisis, the Central Bank of Sudan has continued its efforts to manage and sustain banking operations, resulting in the following:
Taking the necessary banking measures to address the depreciation of the national currency and stabilize the exchange rate, including lowering the transfer limits through banking applications.
Several bank branches have managed to resume normal operations in safe areas, bringing the number of operating branches to 427.
The electronic banking applications of 8 banks have been restored, with some functioning partially.
The Real-Time Gross Settlement System (SRaj) was launched and made available to banks starting from 11 September 2023.
A total of SDG 6.3 billion was allocated and disbursed to finance the summer agricultural season up to the end of August 2023 — representing a 262% increase compared to the previous month — through 9 microfinance institutions, benefiting 15,082 clients (a 97% increase from the previous month) across 8 states.
Preparations are currently underway to announce the launch of the electronic clearing system.
The Central Bank of Sudan, in coordination with bank executive managements and other relevant entities, will consider adopting all possible alternatives and solutions to help banks manage the consequences and losses resulting from the crisis, within the framework of applicable laws, accounting standards, and regulatory frameworks governing the banking sector. These efforts aim to safeguard the rights of depositors and clients while ensuring the safety and stability of the banking system.
Media Office – Central Bank of Sudan
30 September 2023
