Current Date:

Wednesday, 26 July 2017

CBOS Governor: No Change in Policies of the Central Bank

Khartoum- The Governor of the Central Bank of Sudan (CBOS) Hazim Abdegadir has affirmed that deferring of the decision on lifting the US sanctions on Sudan till October

12, 2017 would not lead to any change in the current policies of the CBOS.
Abdegadir affirmed that there is no change in the ongoing policies of the CBOS and that its financial and banking policies as well as policies pertinent to the exchange rate, the situations of the banking system and the dealings of the Sudanese banks with their regional and international counterparts will continue to be effective.
These policies, regulations and procedures were issued during the six months that had preceded the latest American decision, that did not stipulate any new measures in this connection, he added.
He referred to continuation of the flow of the foreign exchange resources to the bank in a stable manner from the gold produced by companies and that being purchased from the traditional miners besides its purchases from unseen proceeds and other resources, adding that the bank continues in a normal manner to provide the foreign exchange needed to cover commitments related to importation of the strategic commodities represented in the petroleum products, wheat, flour, production inputs and payment of the external commitments.
This is besides providing the foreign exchange to the National Fund for Medical Supplies as well as to the banks and exchange bureaus to meet the requirements of the citizens.
The governor of the central bank called on the Sudanese commercial banks to continue to activate their dealings and relations with the external banks and creating conducive internal environment in preparation for the final lifting of the American economic sanctions on Sudan on October 12, 2017.
Due to the great success of the policy of the CBOS pertinent to allow the private sector to purchase and export gold, the central bank affirms continuation of reviewing this policy to give the private sector more freedom and flexibility in this connection in a view to provide more resources to it, he said.
 Abdegadir stressed that the instability that occurred in the previous days in the foreign exchange mark has no justifications as the resources of the central bank and the commercial banks of foreign exchange continue in stable manner and there is no any additional demand during the said period.
He concluded that the CBOS in coordination with the banks have made some procedures which would boost stability of the situation.