‘Bank of Sudan to branch out’: Ministry

Sudan’s Ministry of Finance has announced the start of development of strict regulations via the Central Bank of Sudan (CBoS) to prevent speculation in the parallel US Dollar market.

A spokesman for the Ministry revealed in a statement that it is the intention to establish branches of the CBoS in those countries of the Diaspora with high Sudanese population, in order to attract foreign currency resources from the parallel market to the regular market.

Sanctions

MP Ali Abersi said that the general budget of the country will face limitations and deficits because it is lacking external support, production, and loans. There is also the continued difficulty of bank transfers as a result of the US economic embargo.

He said that all the banks in the world ,including the Gulf banks, have refused to deal with Sudan to avoid exposure to fines from the US administration, similar to what happened to BNP Paribas and other French banks.