Home | News    Thursday 15 December 2016

Sudan’s central bank, U.S. treasury and banks to meet in London: official

separation
increase
decrease
separation
separation

December 14, 2016 (KHARTOUM) - Central Bank of Sudan (CBoS), the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department and international banks will meet in London to discuss banking transactions with Khartoum, CBoS Acting Governor said.

JPEG - 103.2 kb
Logo of the U.S. Office of Foreign Assets Control (OFAC)

Sudan has been under U.S. sanction since 1997, so financial institutions and banks are very careful when it comes to transaction and business in connection with this country.

After a severe punishment of $9 billion on the BNP Paribas in May 2015, many institutions stopped banking transfers and transactions fearing sanctions.

In an interview with the London-based Asharq Al-Awsat newspaper Wednesday, CBoS acting governor Al-Gaili Bashir said the upcoming meeting in London “will mark the beginning of a new era in the future of Sudan’s economy”.

Bashir pointed that OFAC has extended an invitation to the CBoS and the correspondents of the international banks to meet in London to brief them on the sectors that have been exempted from the U.S. sanctions.

It is noteworthy that agriculture equipment and services are excluded from Sudan sanctions; Washington also allowed exports of personal communications hardware and software. Further, the U.S. Treasury Department removed the private Bank of Khartoum from a blacklist of Sudanese entities.

Also, in September Washington said that U.S. sanctions on Sudan do not include private and remittance humanitarian aid to the eastern African country.

Bashir added that his country has suffered greatly from the sanctions which adversely affected medical equipments, means of transport, aircraft parts and auto parts as well as the flow of foreign investments to the Sudan.

He added that the meeting would be attended by the U.S. Special Envoy for Sudan and South Sudan, Donald Booth as well as senior officials from the U.S Treasury Department and the OFAC besides international banks correspondents, Sudan’s Foreign Ministry Under-Secretary and Sudan’s ambassador to London.

The Sudanese official expressed optimism over the outcome of the meeting, saying it would pave the way to reconsider the European Union and donor support and debt forgiveness programs for developing nations.

The U.S. Department of State organized a workshop in New York on September 19, 2016 attended by foreign and domestic financial institutions and members of the private sector U.S.-Sudan Business Council in a bid to clarify the situation with regard to Sudan sanctions.

During the one day seminar, the American officials explained “the jurisdictional limits of U.S. sanctions for transactions which do not involve U.S. goods or have a U.S. nexus”.

Earlier this year Sudan’s Minister of Finance Badr al-Din Mahmoud, said his government is not affected by the sanctions as it deals with other currencies but not the dollar.

He further called to explain the American sanctions on Sudan to the commercial banks saying Sudanese people are the most affected by this programme.

(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


Remember Juba Nuer Massacre 2017-12-18 20:03:26 By James Nguen This brief excerpt discusses the Juba Nuer Massacre and other Massacres like it. Juba Nuer Massacre is by far one of the deadliest, most notable and tragic ever in South Sudan (...)

South Sudan Peace Process: Challenges and opportunities for revitalization forum 2017-12-18 19:47:42 Beny Gideon Mabor, Esq Following the conduct of consultative meetings by the East African regional bloc-the Intergovernmental Authority on Development IGAD-High Level Revitalization Forum on (...)

ARCSS and HLRF: last or lost chance for peace in South Sudan? 2017-12-14 05:02:15 By James Okuk “Tell people in power that something they tried didn’t work as expected” – Peter Ross. “A state without the means of some change is without the means of its conservation” – Edmund (...)


MORE






Latest Press Releases


South Sudanese rights group call to release political detainees 2017-12-10 07:50:31 THE INTERNATIONAL HUMAN RIGHTS DAY: 10 DECEMBER 2017: SSHURSA CALLS ON ALL TO ACTION FOR SOUTH SUDANESE The 10 December usually marks the international human rights day. SSHURSA notes with (...)

Reactions to government agencies’ conspiracy against Greater Bor community 2017-10-08 07:54:31 By Manyok Abraham Thuch & Kuch Kuol Deng A monkey business or a donkey business in the government of the republic of South Sudan against the citizens is unacceptable. Therefore, we as youth (...)

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 (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.