Sudanese banks receive international transfers in U.S. Dollar: CBoS
Oct 12 2017 - The Central Bank of Sudan (CBoS) on Wednesday said the Sudanese banks have actually begun to receive international transfers in U.S. dollar.
The U.S. Administration on Friday permanently lifted 20-year-old economic sanctions against Sudan citing positive actions on humanitarian access and counter-terrorism.
In a press release on Wednesday, the CBoS said money transfers in U.S. dollar started to flow from international banks to Sudanese banks following the lift of the trade sanctions.
According to the press release, two Sudanese banks on Tuesday have actually received international transfers from banks in the United States and Europe.
The permanent lifting of the sanctions ends a U.S. economic embargo on Sudan, removing longstanding restrictions on trade and financial transactions. It also permits U.S. companies to do business with oil and gas industries in Sudan.
Also, Sudan hopes its name would be removed from the U.S. list of states sponsor of terrorism. That designation carries its own penalties, including a ban on weapons sales and restrictions on U.S. assistance.
Sudan was placed on the terror list in 1993 over allegations it was harbouring Islamist militants working against regional and international targets.