Increasing Complaints from Exporters About the Intransigence of the Central Bank of Sudan
Sudan Events – Rehab Abdullah
Complaints from export companies recently banned by the Central Bank of Sudan (CBOS) have been on the rise, particularly concerning export proceeds.
Former Secretary-General of the Chamber of Commerce, Abu Bakr Al-Siddiq, revealed in an interview with Al-Ahdath that 50% of exports are now being carried out through intermediaries known as “Al-Warraqa.” He warned that this practice deprives the state treasury of tax and zakat revenues. He also pointed out that the banned companies had been engaged in exports for decades.
Al-Siddiq criticized what he described as the CBOS’s rigid policies and its refusal to negotiate settlements with exporters regarding delays in export proceeds, especially given that banking operations were nearly halted during the ongoing war, as seen with livestock exports to Saudi Arabia. He added that the CBOS’s insistence and inflexibility have forced exporters out of the formal export system, which he warned poses a significant threat to Sudan’s economy.
He further noted that exporters had submitted a memorandum to the Chairman of the Sovereign Council, General Abdel Fattah Al-Burhan, but have yet to receive a response.
Abu Bakr also revealed that the continued banning of companies has led to the rise of a parallel market run by intermediaries, which has, in turn, resulted in arrest warrants being issued against exporters. He warned that this situation could drive well-established exporters to relocate to other countries, such as China.
He urged the CBOS to engage in urgent discussions with exporters to find solutions, abandon its rigid stance, and consider granting banned companies an extended period to settle their dues. He emphasized that the current phase, following the repeated victories of the Sudanese Armed Forces and supporting troops in key areas, necessitates such measures.
