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Saturday, 20 January 2018

CBOS Governor: The Bank Continues to Purchase all Produced Gold

Khartoum- Governor of the Central Bank of Sudan (CBOS) Hazim Abdul-Gadir has said that the bank, keen on the resources of the Sudan and in encouragement of the miners, is continuing to purchase all the produced gold at high prices through some agents who are present at the production areas.
The CBOS Governor pointed to existence of special chambers for gold at all branches of the central bank in the states of the country, stressing keenness of the bank to by every gram of gold, citing the high economic importance of the precious metal.
The price offered by the CBOS for purchase of gold is considered as the best price to encourage sales and combating its smuggling abroad.
Hazim pointed out that the CBOS is adopting the current policy after considering the experiences of the countries that preceded Sudan in this field including South Africa and Ghana.
Concerning combating of smuggling, Hazim explained that the CBOS is working in coordination with Customs Police and other authorities to curb gold smuggling operations.