Banking Expert: The Banking Sector is the Most Affected by War

Banking expert Dr. Yasser Jamal affirmed that the banking sector has been directly impacted by the current conflict in Sudan. He emphasized the need to study the negative effects of this war on all economic sectors, especially banking, which is critical for absorbing the economic fallout of the conflict.

Dr. Jamal noted that the recent decline in bank profits is unsurprising, given the decrease in financial resources and the loss of assets by most banks. “From a profit-and-loss perspective, most banks are currently operating at a loss,” he stated. He attributed this situation not only to the ongoing conflict but also to the lack of digital banking adoption by most banks, except for a few that have adapted to electronic payment solutions.