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Sudan denies reports on selling local banks

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July 14, 2010 (KHARTOUM) — The Central Bank of Sudan today denied media reports that it intends to sell a couple of local banks to foreign ones.

Yesterday the independent Al-Sahafa daily quoted the governor of the central bank as saying that they will take up offers made by the National Bank of Egypt (NBE) and Banque Misr to either establish branches in Sudan or buy existing local banks.

Al-Sahafa said that the central bank offered them to acquire Al-Nilain bank and Sudanese French bank or integrate with other banks as part of its policy requirements to boost capital.

But the central bank said the report is inaccurate adding that it is seeking to enhance the performance of local banks by finding it a strategic partner that would help it raise capital and assist in the process of development in the country.

The International Monetary Fund (IMF) advised Sudan last year to step up efforts to strengthen the banking system which has been plagued by a surge in bad loans. The IMF has particularly singled out the “troubled” Omdurman National Bank (ONB) which it says requires “quick resolution”.

Sudan says that ONB accounts for more than half of the Non Performing Loans (NPL) and about 28 percent of bank lending in the country. It is widely believed that the central bank intervened to bailout it out and prevent its collapse.

(ST)

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  • 15 July 2010 08:39, by DASODIKO

    Haaaaa, you have sold people of Sudan and their lands; so its would be true that you began to sell the last properties of the Sudanese people. Since your days are counting down and your your matermind criminal Bashir is about to go to Hague, your greedyness pushes you to sell everything your eyes can see in Sudan before your masters are caught and run to Malaysia.

    But unfortunatly you have forgotten that Malaysia where you have tansfered the blood money of the innocent poor Sudanese is not in Mars, its on earth. in 14 hours times only we can bring you back home with chacles on your feet.

    repondre message

    • 16 July 2010 05:03, by Matung Neng-neng

      If it comes to no wrong or right or choice, sure we can use our resources to protect ourselves. Absolute positive thought, Sudan is our only land.

      repondre message

  • 15 July 2010 16:20, by Ayom

    Not sudanese denies the report on selling local banks but Khartoum Government only. they are denying becuase it will spoil the reputation of the soverignity of Khartoum government. That decsion of selling local banks away come up after central bank of sudan being pressure to pay back the debt before country splits. Khartoum government stuck to pay this huge debts and if they didn’t, then they will be blacklist, economic sactions will follows.

    Ayom Ayom

    repondre message

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