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The Central Bank of Sudan (CBoS) has implemented measures to tackle the disruptions in banking services caused by the ongoing war. However, expert Hafiz Ismail warns of substantial obstacles ahead.
The CBoS acknowledged in a statement, the impact of the fighting, vandalism and war-related issues on banks, including electricity outages and communication issues. To address customer concerns, expired bank cards will be extended by six months.
The Central Bank stated that April “unified services’ salaries” were paid, along with operational expenses in a number of sectors.
The CBoS opened channels for “foreign exchange, facilitating exports, and ensuring the smooth flow of foreign transfers to meet urgent obligations”. Additionally, financing arrangements have been made for various sectors, particularly “agriculture, small industries, and production”.
Efforts are underway to restore and resume banking applications.
The bank further warned of “potential challenges associated with reopening previously closed bank branches”.
Banking expert Hafiz Ismail however, expressed his concerns about centralised servers located solely in Khartoum, with no backups outside the city. “This may require a return to manual processes, making customer identification more difficult and disrupting clearing operations”, he told Radio Dabanga.
Ismail added that the current delays in agricultural financing procedures will likely hamper timely support for the ongoing agricultural season, especially as rainfall has already commenced in certain rain-fed areas.
The banking expert also drew attention to the prevailing security situation, which complicates cash handling and the transfer of funds between the various bank branches. He noted that “even operating at a 20 per cent capacity under such conditions would be considered an achievement”.
Last week, the CBoS established an emergency room for the management of banking procedures during the war.
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