Current Date:

Wednesday, 17 January 2018
 

CBOS Issues 2018 Banking System Policies

The Central Bank of Sudan issued 2018 Banking System policies, the governor of CBOS Hazim Abdel Gadir

has affirmed that the policy will adopted as a basic reference to 2018 policies.
The governor stated that the objective of the policies is to realize monetary and financial stability and to contribute in achieving the economic goals of the state and the budget which focused on sustainable development to achieve production and productivity.
The new policy also aimed at filling the deficit gap of 2018 budget, to increase internal and external revenue and to provide hard currency to meet state requirements of commodities and services.
Hazim assured that the main objective of the CBOS Policy is to realize stability in commodity prices and to overcome challenges alongside supporting produced sectors and encouraging private sectors.
The policy based on 7 significant economic points included stability in monetary system, exchange rate, revenue mobilization and utilization, financial stability and banking Safety, micro finance and applying Islamic laws in Banking and financial institutions.
The governor announced to adopt the economic tools and policies to realize goals like the actual rate of SDG to other hard currencies and to encourage investors and expatriates.