Current Date:

Friday, 14 December 2018

CBOS Issues Circular on Import Policies

Khartoum – Central Bank of Sudan (CBOS) issued a circular yesterday on the amendment of import policies, allowing importation by all means of payment, except prepayment when importing necessary and strategic goods.
The circular called on banks to direct foreign exchange resources to import priority commodities (wheat, petroleum products, pharmaceuticals, medical raw materials and pharmaceutical raw materials, as well as production inputs for agricultural, livestock, industrial field, equipment and machineries for craftsmen).
  The bank also allowed the importation using self-resources of foreign exchange resources to import all goods allowed to be imported by all means of payment, including importation facilities in payment, except for prepayment, excluding medicines and medical supplies from banning the use of prepayment method.
The circular exempted imports for investment purposes in accordance with the policies and procedures of the commissions and imports for the benefit of the establishments under the agreements signed with the Government of the Sudan approved by the Ministry of Finance after submitting a valid registration certificate from the commercial registrar and submitting the final license granted to the establishment by the National Investment Authority or the commissions or departments in the states, and provide a list of equipment and needs to be imported.
The controls included that the import documents shall be in the name of the project concerned and approved by the concerned authorities. The general rules stipulated that the provisions of the circular shall not apply to import operations which its banking procedures commenced in or before the date of issue of the circular.