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Central Banks
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Bank of Sudan |
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Bank of Sudan
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Bank of Sudan (Arabic: بنك
السودان) is the central bank of the Sudan. The bank was formed in 1960, four
years after Sudan's independence. The head office is located in Khartoum. In
addition to the normal duties of a central bank, which may include minting
coins and issuing banknotes, managing a country's internal and external
accounting, and setting monetary policy and interest rates, Sudan's central
bank is also responsible for fostering Islamic banking. |
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After the independence of
Sudan, the need for having a Central Bank to replace the existing bodies and
to perform its functions of regulating the process of the issuance of the
national currency, formulating and directing monetary and finance policies
to serve various economic sectors, build up a strong, efficient and
effective banking system that meet the development needs of the country,
maintain government accounts, act as adviser for the government on
financial affairs and provide foreign currency for the development projects
adopted by the government at that time. The Sudanese banking system shall
consist of dual banking system; one of which is Islamic, in Northern Sudan and the other Conventional in Southern Sudan. |
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The Bank shall have the following objectives:
• Achieving stability of prices, maintaining stability of the exchange
rate, efficiency of the banking system and issue of currency of the types
thereof, organize, control and supervise the same;
• Formulating and implementing monetary policy, depending on the first
place on the market forces in such away to achieve the national objectives
of the national macro economy in consultation with the Minister (Minister of
Finance and National Economy);
• Organize banking business, monitor and supervise, strive to promote and
develop and raise the efficiency thereof, in such way, as may achieve the
balanced economic and social development;
• Act, in its capacity as the Government banker, as an advisor and agent
thereof, in the monetary and financial affairs; and
• Abide in the discharge of the duties, achievements of the objects,
exercise of the powers and supervision thereby, of the banking system, by
the ordinances of Islamic Shariah and the conventional banking customs.
The Bank was also given the responsibility of
establishing the discount rate and intervening to control interest rates.
In achieving the functions as mentioned above, the Bank commits itself to
providing effective support functions through a sound banking and financial
control system, appropriate information system and the development of
competent and qualified staff. |
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Bank of Sudan |
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HQ
Address: |
Gamhoria Street - Almogran
Khartoum
Republic of Sudan |
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Tel: |
+249 83 782 246 |
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Fax: |
+249 83 787 226 |
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Website: |
www.cbos.gov.sd |
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Swift Code: |
BSDNSDKH |
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Currency: |
Sudanese pound |
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Banking Hours: |
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Sunday - Thursday 8.30am - 3:00pm |
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Vision of the Central Bank is to be one of the
leading central banks at the regional and international levels in
maintaining the financial and monetary stability in such a way as may
contribute to the realization of sustained economic growth and reinforce the
international confidence in our banking credibility.
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List of banks governed by the Bank of Sudan |
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» Agricultural Bank of Sudan |
» Savings and Social Development Bank |
» Industrial Development Bank |
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» El -Nilien Bank |
» Bank of Khartoum |
» Real Estates Commercial Bank |
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» Faisal Islamic Bank |
» Sudanese French Bank |
» National Bank of Sudan |
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» Blue Nile Mashreq Bank |
» Sudanese Islamic Bank |
» Tadamon Islamic Bank |
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» Islamic Cooperative Development Bank |
» Baraka Bank (Sudan) |
» Export Development Bank |
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» Saudi Sudanese Bank |
» Workers’ National Bank |
» Animal Resources’ Bank |
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» Al Shamal Islamic Bank |
» Farmer’s Commercial Bank |
» Omdurman National Bank |
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» African Bank for Trade and Development |
» Byblos Bank (Africa) |
» Alsalam Bank |
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» Sudanese Egyptian Bank |
» United Capital Bank |
» Aljazeera Sudanese Jordanian Bank |
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» Family Bank |
» Financial Investment Bank |
» Abu Dhabi National Bank |
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» Quata National Bank |
» Arab Sudanese Bank |
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