Home | News    Tuesday 31 May 2011

Sudanese parliament declines to approve loans over usury concerns


May 30, 2011 (KHARTOUM) – The Sudanese national assembly delayed approving three loan agreements signed between the government and other countries over concerns that it involves usury.

Islamic law prohibits usury, the collection and payment of interest, also commonly known as ’Riba’. However, very few Islamic countries enforce this rule.

The loans include ones from Kuwaiti Economic Development Fund and the Arab Fund for Socio-Economic Development.

The parliament speaker Ahmed Ibrahim Al-Tahir was quoted by state news agency as saying that the country is keen on adhering to Islamic Shari’a laws particularly with regards to avoiding usury.

Al-Tahir said during discussions of these loan agreements that this issue cannot be resolved through voting but has to be referred to Islamic scholars to provide their opinion on its conformance with Islamic law.

But the Sudanese finance and national economy minister Ali Mahmood Hassanein defended the loans saying that Sudan’s options for borrowing are limited.

"If we block these loans all our developmental projects will come to a halt," Hassanein said and pointed out to previous precedents approved by the country’s Islamic Fatwa board.

"This is the path available before us and we are governed in our dealings with these international institutions," he added.

But presidential adviser Ibrahim Ahmed Omer rejected the minister’s justifications saying that any exceptions should not be taken lightly and that any loan approval should be done on a case by case basis.

However, several MP’s expressed support to the minister’s assertions warning that rejecting the loans would jeopardize development in the country.

Sudan hasn’t been able to borrow from the World Bank since 1993 because of its failure to make payments on its debt. That may leave the south, one of Africa’s poorest regions, ineligible to borrow from the bank. Sudan has debt arrears of about $30 billion, according to the Washington-based Center for Global Development.

For credit the country relies on selling Islamic bonds, known as Sukuk, among other domestic borrowing, and by external loans from China, Arab nations, India and other countries.


Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 31 May 2011 11:41, by Paul Ongee

    Look at the mentality of Khartoum, religion first or economic development? Northern Sudan may soon come to a dead end economically because of some restrictive Islamic laws. It’s becoming a war between religious circle and international economic development fund system.

    This is what I often refer to in most of my comments; competitive interpretation of Quran to govern this country of Northern Sudan, physically located in Africa but mentally in the repressive Middle East monetary system which few countries enforce “Riba.” The choice is yours, avoid being caught up in parliament and Islamic scholars’ club over Riba or promote socio-economic development fund that attracts investors.

    Northern Sudan should not compare itself with Iran and other Islamic countries applying restrictive Islamic laws. These countries have sound economic base compared to Sudan constantly plagued by war, political instability and reliance on Southern Sudan oil reserves.

    Paul Ongee
    Khartoum Watch

    repondre message

Comment on this article

The following ads are provided by Google. SudanTribune has no authority on it.

Sudan Tribune

Promote your Page too

Latest Comments & Analysis

South Sudan needs citizens’ participation in politics 2019-09-14 18:11:41 By Biong Deng Biong On the 4th December 2012, Isaiah Abraham was tragically gunned down in cold blood outside his residence in the South Sudan capital, Juba. The gunman was apparently ‘unknown’. (...)

Has Thomas Cirilo realize the importance of the enemy of my enemy is my friend? 2019-09-09 13:29:06 By Clement Maring Samuel When I read a tripartite agreement signed by Gen. Thomas Cirilo; Gen. Pagan Amum Okiech; and Gen. Paul Malong Awan who represented their parties of SSNDA; R-SPLM, and (...)

President Kiir: The Nelson Mandela of South Sudan? 2019-09-09 12:44:31 By Biong Deng Biong There is no reservation that Nelson Mandela was a great leader, but how does President Kiir fair? More often, we focus on the negative performance of leaders while forgetting (...)


Latest Press Releases

S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


Copyright © 2003-2019 SudanTribune - All rights reserved.