Al-Neelain Bank Former BOD Chairman: Banks will not “Go Bankrupt”

Sudan Events – Rehab Abdullah

The former Chairman of the Board of Directors of Al-Neelain Bank, the economic expert, Dr. Babekir Mohammad, refuted the expectations of some that the banks would go bankrupt or be liquidated.
In his statement to Al-Ahdath, he said, “No bank will go bankrupt,” stressing that the compensation that comes after the war includes supporting banks whose assets are the funds of individuals.
He pointed out that the Central Bank of Sudan plays a major role in directing the banking sector to hedge risks and proper procedures in dealing with the assets of banks, in addition to obliging banks to provide a reserve of not less than 20% as a precaution against risks and exposure to bankruptcy.
Al-Tom added that what happened in Sudan and the impacts of the damned war require understanding that the entire economy needs a closer look, rearranging the papers, and a comprehensive reconstruction plan that will put the entire economy back on its right track.
He stated that the Bank of Sudan must study the matter carefully and develop a vision that will reconcile the conditions of the banks as part of the national reconstruction plan… Not for bankruptcy.