CBS Directs Bank of Khartoum to Halt Deductions, Refund Customers

Port Sudan – Sudanhorizon

The Central Bank of Sudan (CBS) has directed the management of the Bank of Khartoum to cease deducting any further amounts from customer accounts under the heading of “contributions or fees to the Deposit Guarantee Fund,” whether from current or savings accounts.

The directive issued in a circular has stressed the need of immediately refunding all amounts previously deducted from customer accounts for this purpose.

The Central Bank emphasized in its directive that customers should not bear this contribution directly, clarifying that any financial obligations related to the Deposit Guarantee Fund should not be passed on to depositors through deductions from their personal balances.

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