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Sudan: New CBOs Protocols for Bank and Credit Cards in Sudan

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Khartoum — The Central Bank of Sudan (CBoS) issued a circular to commercial banks yesterday outlining controls and procedures for issuing and accepting international bank and credit cards such as Visa, Mastercard and others. It has also set daily and weekly withdrawal limits.

The CBoS leaflet was distributed yesterday after the government devalued the Sudanese Pound (SDG) in an attempt to end the existence of the parallel currency market, and encourage direct dealing with banks. It grants Sudanese banks access to the licenses of global payment technology companies, subject to CBoS approval.

The licenses of payment technology companies include issuing debit cards to individuals, companies, paid cards to individuals, companies, gifts, credit cards for individuals and companies, as well as accepting cards at ATMs, e-points of sale and e-commerce sites. The publication pointed out that the customer cards may be fed through transfer from outside Sudan or by cash deposits for foreign currencies.

The CBoS has set a daily withdrawal ceiling of $5,000 and weekly withdrawals should not exceed $25,000, while card payments should not exceed $500.

Mohamed El Bassi, deputy governor of the CBoS, said that “the policy of unifying the exchange rate has met with unprecedented success,” pointing out that it is in the interests of the CBoS to solving all problems and obstacles that hinder the continued flow of foreign funds into banks.

During an address to the press conference to announce special incentives for expatriates and immigrants in Khartoum yesterday, El Bassani stressed the support of banks in the Gulf countries for the policy of liberalising the exchange rate by providing facilities, the most important of which is free transfer, asking the public to consider the national interest over personal interest and resist the temptation to trade with parallel market brokers.