CBoS Announces Approval of All Import Requests and Continues Foreign Currency Supply

Sudanhorizon – Hala Hamza

The Central Bank of Sudan announced that it will continue its daily supply of foreign currency and has instructed commercial banks to submit import financing requests to the central bank for processing.

The bank indicated that it has approved all import requests submitted through commercial banks by companies importing petroleum products. These companies were granted letters of no objection after complying with collateral requirements by depositing 200 kilograms of gold with the Sudan Gold Refinery.

The General Administration of Financial Markets at the Central Bank directed commercial banks to provide a daily report containing all import requests submitted by customers. The report must include the customer’s name, the commodity to be imported, the value of the request and transaction, the purpose of the import, the method of payment, and the maturity date.

The Central Bank also required commercial banks to ensure that all requests comply with the regulations governing import operations.

According to the directive, the measures are intended to enhance the efficiency of foreign exchange management and utilization, while accelerating procedures for providing the financing needed to support import activities.

Shortlink: https://sudanhorizon.com/?p=15241