Banks: Electronic Clearing System Launching Shows Ability to Overcome War Impacts

Sudanhorizon-Hala Hamza
The Sudanese Banks Union (SBU) has affirmed that the Central Bank of Sudan’s (SBS) launching of the electronic check clearing system, effective as of today, Wednesday, marks a turning point in restoring banking services to the public, which were disrupted by the war.

This contributes to the return of financial stability and strengthens customer confidence in the banking sector, and is also an indicator of an improved banking environment.

In a statement issued on Wednesday, the Union said that the resumption of the clearing system’s operation constitutes a pivotal step in the recovery of the banking system after the severe damage it suffered as a result of the war.

The step of restoring the mechanism for settling checks and financial transactions between banks, under the supervision of the Central Bank of Sudan, represents an important indicator of the improvement in the banking infrastructure and the ability of financial institutions to overcome the impact of war.

This will positively impact commercial and economic activity, reduce reliance on direct cash transactions, and support efforts to revive the national economy.

The official spokesperson for the union, Abdul Rahman Al-Houri, explained that the daily limit for clearing checks per customer is five million pounds (5,000,000), as determined by the Central Bank of Sudan.

Al-Houri also noted the amendment to the limit for interbank transfers via the Bank Account Number (BBAN), raising it to three million Sudanese pounds (3,000,000). This amendment aims to promote electronic banking and support the government’s digital transformation strategy.

Al-Houri affirmed that the next phase will witness the introduction of more banking technology services through the Electronic Banking Services Company (EBS), further supporting electronic banking and financial inclusion.

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