Current Date:

Saturday, 23 December 2017

CBOS Board of Directors Endorses its Policies for 2018

Khartoum - The Board of Directors of the Central Bank of Sudan (CBOS) approved Tuesday the bank's policies for the 2018, which came consistent with the CBOS strategic

plan, the five-year economic reform program and the guidelines of the state budget, which will be implemented at the beginning of the year 2018.
The Central Bank's policies for 2018 focused on increasing and attracting resources in the local currency through the implementation of the policy of financial inclusion, the development of electronic payment services and directing resources to the productive sectors in order to increase production and productivity.
The CBOS Governor pointed out that the policies of the Central Bank aims at export encouragement and provision of funds for it. He revealed that the policies focused on augmentation of foreign exchange resources through increasing purchases of gold and securing and controlling the proceeds of export revenues besides attraction of the resources of Sudanese working abroad by giving them banking incentives to allow banks giving them real estate finance in addition to other advantages. He added that the measures taken by the state recently including fiscal and monetary policies would restore the situation to the right track.
Abdul-Gadir said that the central bank would work to rationalize and control the demand for foreign exchange and build up confidence in the banking system, revealing that the CBOS will coordinate with the relevant parties to fight smuggling of the country's resources, especially gold.