Ministry of Finance Begins Implementation of Government Fee Collection through the Banking System

The Ministry of Finance has started implementing the Cabinet decision No. (150) regarding the regulation of receiving cash payments and settling government obligations via the banking system, as well as utilizing banking applications to facilitate the process. A government account has been opened in five commercial banks. In a meeting chaired by Dr. Jibril Ibrahim, the Minister of Finance, with the participation of the Central Bank Governor, his deputies, the Ministry’s Undersecretary, and bank directors at the Ministry’s headquarters on Sunday, an agreement was reached between the Ministry of Finance and the banks to specify a holding period for funds collected in the government account at these banks, which will not exceed 48 hours. The agreement also included reducing the fees charged by the banks to the Ministry of Finance on all revenues from 1% to 0.5%, and lowering the fees charged by the banks from clients depositing funds on behalf of the Ministry of Finance from 1,000 Sudanese pounds to only 500 pounds.

The Minister emphasized the government’s commitment to digitization and electronic payments to facilitate citizens’ tasks and ensure the smooth transfer of government entitlements to its accounts on time.

Meanwhile, the Ministry’s Undersecretary, Abdullah Ibrahim, confirmed that electronic payments ensure the flow of revenues and represent a step toward financial inclusion, pointing out that the National Switch at the Central Bank of Sudan has not been operational yet, prompting the Ministry to open a government account in five widely spread commercial banks that have their own switches: Bank of Khartoum, Faisal Islamic Bank, Omdurman National Bank, Al-Mazaree’ Bank, and Al-Baraka Bank.

Mohammed Osman, Deputy Governor of the Central Bank, stressed the importance of the agreements made to facilitate the flow of government revenues, enabling the Ministry of Finance to effectively manage macroeconomic responsibilities and meet all government obligations on time.