Bank of Khartoum Clarifies Role of Strategic Commodities Portfolio
The Bank of Khartoum denied circulating claims regarding its relationship with the Central Bank of Sudan and its role in the Strategic Commodities Portfolio.
In a press statement, the bank stressed its commitment to transparency, clarifying that the recent decision by the Economic Emergency Committee on gold trade did not authorize the portfolio—led by the Bank of Khartoum—to buy or export gold. The Central Bank’s circular on the matter, it added, was explicit and left no room for interpretation.
The bank confirmed that the Strategic Commodities Portfolio has not purchased or exported a single gram of gold since its inception. Instead, it has leveraged Bank of Khartoum’s resources to import petroleum derivatives worth over USD 1 billion, helping secure fuel supplies and stabilize the exchange rate before recent surges.
The statement emphasized that the portfolio is not monopolized by the Bank of Khartoum; rather, it is chaired by the Central Bank and open to participation from all banks and investors, ensuring transparency and competitiveness.
The bank further noted that widespread public confidence, reflected in deposit choices, represents a significant achievement. However, with most cash still circulating outside Sudan’s banking system, it urged greater efforts to attract deposits. The statement also called on media professionals covering economic and banking affairs to verify information and uphold journalistic integrity, warning of the dangers of misinformation and incitement to the country’s stability and public interest.
