Former Markets Authority Official: Resumption of Trading on the Stock Exchange Positive Step

Khartoum – Sudanhorizon

Dr. Shawqi Azmi, the former head of the Capital Markets Authority, has described resumption of trading on the secondary market for company shares and investment fund certificates at the Khartoum Stock Exchange as a positive step. He also called for the need to emphasize the oversight role in trading operations.
In an exclusive statement to Sudanhorizon on Thursday, Azmi said that he had issued the decision to freeze trading on the stock exchange, in his capacity as Director General of the Capital Markets Authority, following the outbreak of war. This was due to the fact that the Khartoum Stock Exchange was located in an area considered highly dangerous and subjected to heavy bombardment.
He explained that the trading suspension was implemented to protect shareholders’ rights, prevent any transfers of share ownership without the knowledge or consent of the owners, and safeguard share values from collapse due to the war conditions, which would negatively impact the financial standing of companies and banks.
He noted that the current administration of the authority deemed the time appropriate for the Khartoum Stock Exchange to resume its role in trading operations.
Dr. Azmi commended the efforts of the Khartoum Stock Exchange administration in a proactive and efficient operation to remove the electronic system (server) at the outbreak of war and relocate it to Port Sudan, as it contains the balances of all shareholders in companies, banks, and investment funds.

Shortlink: https://sudanhorizon.com/?p=17656