Home | News    Saturday 3 May 2014

Sudan seeking to resolve banking obstacles to exporting livestock to Saudi Arabia

separation
increase
decrease
separation
separation

May 2, 2014 (KHARTOUM) - The National Agency for Financing and Export insurance said it expects to reach decisive solutions that are critical to the country’s exports of live cattle to the Kingdom of Saudi Arabia during the current month of May.

JPEG - 31.1 kb
A cattleman walks with cows before they are slaughtered at an abattoir near Khartoum on 26 March 2011 (Photo: Reuters/Mohamed Nureldin Abdallah)

The deputy head of the agency Al-Hadi Ahmed Abdella told state media that these restrictions are imposed by the banks on wire transfers or demanding pre-payment or through a letter of guarantee for the value of the exports.

Abdellah called for accelerating these solutions close to the start of the export season to meet the needs of the holy month of Ramadan and the upcoming pilgrimage season.

He noted that Sudan contributes 50% of the needs of Saudi Arabian market which is estimated at 4 million heads annually.

"Due to the cessation of livestock exports to Saudi Arabia from Syria because of recent events, Sudan will be depended on to meet the needs of the Kingdom in this field," Abdella said.

The business community in Sudan has grown concerned that Saudi Arabia is starting a de facto economic embargo of the country following a revelation last March that a number of Saudi and European banks took a decision to stop dealing with Sudanese banks.

Sudanese officials attributed the move to pressure by the United States which has economic sanctions imposed on the East African nation since 1997.

There was no comment from Saudi Arabian Monetary Agency (SAMA) and it is not clear if the latter issued the directive or if it was decision by individual banks.

A Western diplomat told Agence France Presse (AFP) at the time that the move by the European banks appears to reflect an increasingly cautious attitude by financial institutions which do not want to risk being found in violation of US sanctions.

For Saudi Arabia, strained political relations over Sudan’s links to Iran could be a factor in the banks’ decision, the Western diplomat said.

(ST)

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.

Comment on this article



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


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudan’s renegade Sheikh 2017-09-12 12:44:55 By Ahmed H Adam Tensions between the Sudanese regime and militia commander Sheikh Musa Hilal has reached a tipping point in recent weeks. On July 20, Sudanese Vice President Hassabo Abdel (...)

The UN’s WHO knows cholera vaccines have been used effectively: why not in Sudan? 2017-09-09 23:05:26 Eric Reeves The UN’s World Health Organization (WHO) continues in its refusal to call the cholera epidemic that has spread throughout Sudan by its proper name (cholera is caused by the Vibrio (...)

Why a technocratic transitional government in South Sudan? 2017-09-09 07:17:12 Dr Lam Akol The youngest country in the world was born amid great expectations and hopes for the future. These were not day dreams or castles built in the air. The hope was based on the fact (...)


MORE






Latest Press Releases


Amnesty calls to release Nubian activists detained over protest for cultural rights 2017-09-12 20:47:54 AMNESTY INTERNATIONAL PRESS RELEASE 12 September 2017 Egypt: Release 24 Nubian activists detained after protest calling for respect of their cultural rights Egyptian authorities should (...)

New group formed to gather Nuer in United States 2017-08-17 14:15:50 DECLARATION FOR THE FORMATION OF NUD TO BRING TOGETHER ALL NUER IN THE U.S.A Press Statement The Nuer Union For Development (NUD) The United State of America The State of Nebraska August 15, (...)

A prominent Sudan Women and Civil rights activist passed away 2017-08-14 21:09:47 The Strategic Initiative for Women in the Horn of Africa (SIHA) Khartoum, Sudan-August 14 2017 In the early hours of Saturday 12th August Fatima Ahmed Ibrahim, a renowned Sudanese leader of the (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.