New Procedures towards Export Companies

Sudan Events – Rehab Abdullah

The Central Bank of Sudan has announced new “temporary” measures to grant 225 defaulted companies operating in the field of exports a period of two months to recover their defaulted export revenues, starting from the first of this current May.
The Central Bank, according to the decision obtained by (Sudan Events), justified the step because the companies exceeded the time limit granted to supply the proceeds. The Central Bank also justified the step in relation to the current circumstances and exceptional situations that the country is going through.
He directed that the proceeds be transferred during the granted period to the accounts of the Bank of Sudan abroad, including Al Salam Bank, Bahrain, and the Bank of Khartoum, Bahrain. He indicated that these proceeds are sold at the bank prices announced on the date of sale, and threatened to block the customer with a comprehensive banking ban in the event of non-compliance.