Central Bank Orders Bank of Khartoum to Halt Deductions and Refund Customers
The Central Bank of Sudan has issued directives to the Bank of Khartoum ordering it to halt the deduction of any financial amounts from customers’ accounts under the designation of contributions or fees for the Deposit Insurance Fund, and to refund amounts previously deducted.
The decision comes within the framework of strengthening the protection of depositors’ rights and ensuring banks comply with approved banking regulations and instructions.
The Central Bank stressed the need for immediate compliance with stopping any deductions made without direct legal authorization from customers.
The directives include stopping any deductions made under the name of Deposit Insurance Fund contributions or fees, returning all amounts previously deducted for this purpose, and prohibiting withdrawals from current or savings accounts for such charges.
The Central Bank emphasized that these measures aim to protect trust between banking institutions and customers.
It clarified that customers do not directly bear any financial contributions related to the Deposit Insurance Fund, stressing that such obligations cannot be transferred to depositors through deductions from their balances.
The bank noted that responsibility for financing the fund falls within the obligations of banks and financial institutions, not customers’ funds.
The decision is expected to enhance transparency within the banking sector, protect depositors’ rights, and increase confidence in the banking system.
This step comes as part of the Central Bank of Sudan’s efforts to restore stability and discipline to the banking sector during the current phase.
