Banking Expert Stresses the Need for Structural Reform in Sudan’s Banking Sector

Sudan Events – Rehab Abdullah

Banking expert Walid Daleel emphasized that the banking sector is one of the most affected by the ongoing war in Sudan. He highlighted, during his conversation with Sudan Events, the urgent need to restructure the banking sector in Sudan, particularly in terms of ownership rights, control of financial resources, and who manages and distributes these resources.
Daleel clarified that the struggles of Sudanese banks are not just a result of the war or the current stage, but most banks faced organized and systemic corruption during the rule of former President Omar al-Bashir, who governed for 30 years.
He added, “It is known that any bank financing is subject to specific terms and timelines, but violations occurred in the granting of funds, and there were leniencies in repayment procedures, with defaulters receiving help from powerful figures within the banks, without enforcing the law, which has led to the sector’s current decline.”
He also pointed out that most Sudanese banks do not comply with basic regulations and are not meeting the required capital adequacy. The Central Bank of Sudan has continuously extended their deadlines to adjust their status.
The banking sector’s challenges have worsened as some banks and companies have been used by warring factions to support military operations. In this context, the United States previously imposed sanctions on a bank and two companies for allegedly providing funding to the conflicting parties in Sudan.