Central Bank of Sudan Issues Regulations for Resumption of Clearing Operations

The Central Bank of Sudan, through its General Administration for Banking Regulation and Development, issued a new circular outlining strict regulations and guidelines for cheque collection through the electronic clearing system in local currency.

The circular is based on the provisions of the 2006 Electronic Clearing Operations Regulation and comes as part of the Central Bank’s ongoing efforts to resume the system after its forced suspension due to the repercussions of the war that erupted on April 15, 2023.

The circular limited clearing operations to cheques issued in local currency only and obligated banks to meet the requirements for contributing to the Liquidity Management Fund in order to benefit from its balances.