Bank of Khartoum: Branch Opening in Egypt Still Under Process, and Trade Between the Two Countries Occurs Outside the Banking System

Cairo – Sabah Mousa – Nazik Shammam

The CEO of Bank of Khartoum, Lamiaa Satti, revealed that the process of opening a branch of Bank of Khartoum in the Arab Republic of Egypt is still under procedural review, despite fulfilling all requirements set by the Central Bank of Egypt.

Speaking during her intervention at the Egypt–Sudan Banking Integration Workshop, Satti said that Bank of Khartoum had submitted its request to open branches in Egypt some time ago, but the request remains under processing. She affirmed that the bank has complied with all required procedures, particularly those related to capitalization and necessary investments.

She confirmed that all commercial exchanges between Egypt and Sudan currently occur outside the formal banking sector, noting that trade activity between the two countries continues but happens outside the banking systems of both sides.

Satti called on the Central Bank of Sudan to assist in facilitating correspondent banking relationships between Sudanese and Egyptian banks. She also urged the Central Bank of Egypt to ease the procedures required to allow Sudanese banks to open branches in Egypt and to grant the necessary approvals.

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