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Banks body want talks on Islamic banks in southern Sudan

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November 13, 2007 (KHARTOUM) — The Sudanese Bankers Association (SBA) called for talks with the concerned parties on the future of the Islamic banks in southern Sudan in order to reach an agreement to maintain their presence there.

Last April Othom Rago Ajak, Director for Banking at the government’s Bank of Southern Sudan indicated that Islamic banks operating in southern Sudan must either convert to conventional banking or leave.

According to the southern Sudan official the 2005 peace deal says the south will have its own conventional banking system, in parallel with the Islamic banking system operating in the mainly Muslim north.

However, the head of the SBA, Hatim al-Zubair, told AlRay Alam that the CPA stipulates the existence of the two systems in the country and through negotiations parties can find a solution.

Al-Zubair further said that besides talks with Juba they will seek to convince religious authorities to issue a Fatwa, an Islamic permission, allowing them to accommodate their activities with the conventional system in the south.

Whoever, the association insists on reaching a compromise, giving the Islamic banks the right to stay in the south without violation to the legislation and the Islamic religious prescriptions.

According to the head of Southern Sudan Bank, the Islamic banks will be notified a delay of four months to choose how to proceed and to comply with the decree.

(ST)

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  • 15 November 2007 05:47, by Deng Thiak Adut

    I believed that the CPA had empowered South Sudan to discriminate against any bank. There’s no amnesty to seek fatwa in the South Sudan. It no surprise that this Islamist still stick their nose in the CPA which clearly spell out the authority of South Sudan banking power. We can make (south sudan) laws in any area covered in the CPA "with respect to anything" and to the point that we can discriminates Islamic Bank or foreign trades.
    We are not blind to see why Islamic back seek existence in the South. The South Sudan can not allow that happen.

    Political, and economically, there is no direct benefit that Southern Sudan can receives in returns for Islamic bank to carryout their business.

    repondre message

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