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Saturday, 24 February 2018

Sudanese Banks Union Organizes Forum on Requirements of Dealings with Correspondent Banks

Khartoum - The Assistant Governor of Central Bank of Sudan (CBOS), Awad Ali Abdallah Abu-Shouk, has affirmed that the central bank has issued new regulations for the Sudanese banks following lifting of the economic sanctions that had been imposed on the country to enable them to deal with their counterparts in the world.
The assistant governor of the central bank was addressing yesterday the inaugural session of a forum on the requirements of dealings with correspondent banks, organized by the Sudanese Banks Union and Arab Banks Union under the sponsorship of CBOS, at Al Salam Rotana Hotel in Khartoum.
He said the CBOS aims at enhancing exports and increasing their competitiveness in new markets as well as encouraging investments in the fields of production and exports, urging banks to complete arrangements for dealings with their international counterparts.
Secretary General of the Arab Banks Union Wesam Hassan, on his part, affirmed importance of establishing partnerships between the public and private sectors and extending finance to small and medium projects to create employment opportunities for the youth.
Chairman of the Sudanese Banks Union Massad Mohamed Ahmed, on his part, pointed out that the Sudanese banking sector has proved its strength by its steadfastness during the economic sanctions period that lasted for more than 20 years, explaining that the sector, despite this, has been able to realize positive results in the various fields.
He pointed out that the Sudanese banks are pressing ahead with developing banking technology and adopting quality and excellence criteria, saying the policies of the CBOS are considered as the safety valve for the sector.
The Sudanese banking sector is exerting utmost efforts to restore network of its correspondents at the level of the world and expand it based on the positive situations the country is witnessing now, he affirmed.