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Bank of Sudan is the central bank of the Sudan. The bank was formed in 1960, four years after Sudan's independence. It is located in Khartoum and its governor is currently Sabir Mohammed Hassan. Map of Sudan with Khartoum Khartoum ( الخرطوم al-Ḫarṭūm Elephant Trunk) is the capital of Sudan and of Khartoum State. ...

History

When Sudan achieved independence in 1956, the creation of a central bank was a priority. A 3-man commission of experts from the American central bank, the Federal Reserve, worked with Sudanese government and financial people to create the Law of the Bank of Sudan for 1959, and in 1960 the Bank of Sudan began operations. Year 1956 (MCMLVI) was a leap year starting on Sunday of the Gregorian calendar. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ... 1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ...

In addition to the regular duties of a central bank, which may include minting coins and issuing banknotes, managing a country's internal and external accounting, and setting monetary policy and interest rates, Sudan's central bank also has responsibilities to Islamic banking law. A mint is a facility which manufactures coins for currency. ... A £20 Ulster Bank banknote. ... It has been suggested that Accounting scholarship be merged into this article or section. ... Monetary policy is the government or central bank process of managing money supply to achieve specific goals—such as constraining inflation, maintaining an exchange rate, achieving full employment or economic growth. ... An interest rate is the rental price of money. ...

After Islamic law (Sharia) was established in the Sudan in 1984, the banking and financial industry reformed in accordance with the government. The banking system was Islamized, and in 1993 the Sharia High Supervisory Board (SHSB) was established, to ensure compatibility with Islamic principles. In compliance with the SHSB, treasury bills and government bonds are not being sold by the government to raise money; instead, the Bank sells "Financial Certificates" that comply with Islamic financial principles. Not to be confused with Shahryar. ... Treasury Securities are bonds issued by the U.S. Treasury. ... Government debt (public debt, national debt) is money owed by government, at any level (central government, federal government, national government, municipal government, local government, regional government). ...

Operations

As far as the current state of the Sudanese banking and financial situation is concerned, the website of the bank's "About Bank of Sudan" section states: A website (or Web site) is a collection of web pages, typically common to a particular domain name or subdomain on the World Wide Web on the Internet. ...

:The Bank of Sudan has continued to play its role to entrench Islamization of banking through monetary policies that cope with the public trends and the National Comprehensive Economic Strategy Policy. Since the beginning of the Three Years Economic Program (1990-1993), the Bank of Sudan carried out financing policies that aimed to revitalize the Sudanese economy the last of which was the credit policy of 2000 which was based on the following: -

1. Emphasizing the supply side measures and the monetary stability in view of better utilization of the banking resources by stressing financing on economic priority sectors, and continuation of streamlining general supply policies.
2. Continuation with the social support program for the benefit of the poor families in accordance with the national mobilization project for social security and for the improvement of productivity.
3. Continuation with financing public corporations through the banks without recourse to the Bank of Sudan for direct financing.
4. Allowing the commercial banks to offer financing in foreign exchange according to the regulations issued by the Bank of Sudan.

Branches of the Bank of Sudan
As the country of Sudan is about 1 1/2 times the area of the state of Alaska in the United States, the central bank has a branch bank system: Social security primarily refers to a field of social welfare concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment, families with children and others. ... Foreign exchange has several meanings: In telecommunications, Foreign exchange service is a type of network service. ... It has been suggested that List of major geographic bodies, ordered according to area be merged into this article or section. ... Official language(s) English Capital Juneau Largest city Anchorage Area  Ranked 1st  - Total 663,267 sq mi (1,717,855 km²)  - Width 808 miles (1,300 km)  - Length 1,479 miles (2,380 km)  - % water 13. ... Bank of America branch in Porter Ranch, Los Angeles, California A branch, banking centre or financial centre is a retail location where a bank or financial institution offers a wide array of face to face service to its customers. ...

• The Main Branch - Khartoum
• Wad Madani Branch
• Kosti Branch
• Atbara Branch
• El Gadarif Branch
• Nyala Branch
• Juba Branch
• El Obied Branch
• Dongola Branch
• Port Sudan Branch
• El Fashir Branch
• Wau Branch

List of governors of the Bank of Sudan

• Mamoun Ahmed A. Beheiry 1959 - 1963
• Elsayid Elfeel 1964 - 1967
• Abdelrahim Mayrgani 1967 - 1970
• Abdelateef Hassan 1970 - 1971
• Awad Abdel Magied Aburiesh 1971- 1972
• Ibrahim Mohammed Ali Nimir 1973 - 1980
• Elsaikh Hassan Belail 1980 - 1983
• Faroug Ibrahim Elmagbool 1983 - 1985
• Ismail el-misbah Mekki hamad 1985 - 1988
• Mahdi Elfaky Elshaikh 1988 - 1990
• Elshaik SidAhmed Elshaikh 1990 - 1993
• Sabir Mohammed Hassan 1993 - 1996
• Abdall Hassan Ahmed 1996 - 1998
• Sabir Mohammed Hassan 1998 - currently serving a second term

See also

• Central banks and currencies of Africa
• Economy of Sudan
• List of central banks
• Sudanese dinar, the former currency
• Sudanese pound, the current currency

Countries using CFA franc There are two African currency unions; the West African Banque Centrale des Etats de lAfrique de lOuest (BCEAO) and the Central African Banque des Etats de lAfrique Centrale (BEAC). ... Sudans primary resources are agricultural, but oil production and export are taking on greater importance since October 2000. ... List of central banks Afghanistan – Da Afghanistan Bank Albania – Bank of Albania Algeria – Bank of Algeria Argentina – Banco Central de la República Argentina Armenia – Central Bank of Armenia Aruba – Centrale Bank van Aruba Australia – Reserve Bank of Australia Azerbaijan – National Bank of Azerbaijan Bahrain – Bahrain Monetary Agency Bangladesh – Bangladesh... // The Dinar The dinar is the currency of Sudan. ... The pound (Arabic: ) is the currency of Sudan. ...

External links

• (Arabic) (English) Bank of Sudan