Sudanese Savings Bank’s Board of Directors Dissolved, Interim Director Appointed

Sudanhorizon – Hala Hamza
The Governor of the Central Bank of Sudan, Ms. Amina Mirghani, issued a decision dissolving the Board of Directors of the Savings and Social Development Bank. She also issued another decision appointing Mohamed Ali Al-Sheikh Al-Tarifi as the bank’s interim director.
The second decision, issued on April 23, grants the interim director all the powers and allowances stipulated in the Banking Regulation Act of 2021.
It also delegates the interim director to enlist the assistance of experienced banking professionals from the Central Bank of Sudan, subject to the Governor’s approval, to participate in supervisory and management tasks, monitor the bank’s operations, and fulfill its responsibilities.
This will be done under the supervision and guidance of the interim director. No financial rewards or compensation from the Savings Bank are prescribed to those officials.
In compliance with legal procedures, the decision mandates the interim director to submit periodic reports to the Governor of the Central Bank of Sudan, as stipulated in Article 73 of the Banking Regulation Act.
The decision also stipulates that the interim director will receive the financial allowances allocated to the Director General of the Savings Bank, in accordance with the Governor’s powers under the Banking Regulation Act.

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