Governor Mr. Hussein Yahya Jangoul El-Basha |
Headquarters Karthoum, Sudan |
Established 1960 |
Currency Sudanese pound - SDG (ISO Code ) |
Website www.cbos.gov.sd/en |
After the Sudan obtained its independence, the necessity for having a Central Bank appeared in order to replace the bodies executing its functions which include organizing the issue of currency, formulating monetary and financing policies with the aim of directing finance to serve the economic sectors and build up of a strong, efficient and effective banking system to serve the needs of economic development in the country. The need for having a Central Bank increased after the adoption of the State at that time ambitious economic programs, which made it inevitable to produce monetary and finance policies to conform and match with these ambitious programs for the Sudanese economy.
To achieve that, a committee of three experts was constituted at the end of December, 1956 from the American Federal Reserve Bank to conduct an extensive study in this respect and to look in the possibility of establishing a Central Bank in the Sudan. After the Committee accomplished its study and raised its recommendations, the Bank of Sudan Act (1959) was issued and the Bank commenced its business on February, 1960 as an independent body, having its corporate personality, contracting capacity, a common seal and may litigate in its own name as prosecutor or defendant.
The Main Objectives of the CBOS
The adoption by a country of a particular economic system, may call for its Central Bank to carry out certain functions which differ substantially from those of central banks in other economic systems.
Each Central Bank, has its own Act specifying these functions which can be amended as deemed necessary.
In December, 2002, the Bank of Sudan Act, 2002 was issued wherein Section (6) specified the objects of the Bank as follows:
After concluding the Comprehensive Peace Agreement (CPA), the Central Bank of Sudan Act 2002 was amended in 2006, wherein the nature of the banking system, the Bank and its branches, were specified in Section (5) from the Act as follows:
Also Section (6) of the Act, specified the main responsibilities of the Bank as follows:
The Bank shall have the following objectives:
Capital | Khartoum |
Population | |
Total | 39,148,162 July 2004 est. |
Population Growth Rate | 2. est.) |
Land Area | |
Total | 2,505,810 sq km |
Land | 2,376,000 sq km |
Water | 129,810 sq km |
Geographic Coordinate | 15 00 N, 30 00 E |
Independance | 1st of January 1956 |
Gross Domestic Product | |
Total at current prices (2006) | 7548147.3 SDD Millions |
Growth rate (2006), constant 1981/82 prices | 9.3% |
Inflation; annual average, 2005 | 8.4% |
Currency (Since 01 July 2007 | Sudanese Pound (SDG) = 100 Sudanes Dinar (SDD) |
Exchange rate | |
SDG per US$; end of December, 2007 | 2.0526 |
SDG per US$; (annual average), 2007 | 2.0157 |
1. Money Supply
2. Assets and Liabilities of the Central Bank of Sudan
3. Consolidated Balance Sheet of the Commercial Banks
4. Position of Commercial Banks Advance
9. Petroleum & Petroleum Product Export
10. Petroleum & Petroleum Product Export by Country
12. Main Importers
13. Main Exporters
16. Exchange Rates
The Bank of Sudan disseminates statistical data through the official documents and website to the public simultaneously through:
The Economic and Financial Statistics Review is a quarterly issue contains statistical data of External and Monetary Sectors in Sudan.
The External Sector contains: BOPs Statistics, Drawings and Repayments of Loans, Invisible Transactions, Position of Public Sector Loans, Central Bank of Egypt - Trade & Payments Agreement , Outstanding Balance of Official Bilateral Accounts, Summary of Foreign Trade [Exports and Imports],Sudan’s Direction of Exports and Imports, Exchange rates, and Exchange Dealing Room transactions
The Monetary Sector contains: Consolidated Balance Sheet of Commercial Bank (Assets and Liabilities), Analysis of Deposits by Term and Sector, Banks’ Advances in Local and Foreign Currencies, Flow of Finance in Local Currency by Sectors and by Modes,Cost of Finance According to Murabaha and Musharaka Modes, Currency in Circulation, Khartoum Banks’ Clearing House local and foreign, Assets and Liabilities of Bank of Sudan, Money Supply and Factors Affecting Money Supply, Monetary Base,Central Bank and Government Musharaka Certificates, Consumer Price Index and Inflation Rates, Khartoum Stock Exchange (Primary and Secondary Markets).
Foreign Trade Statistical Digest is a quarterly issue contains statistical data of Sudan Exports and Imports
Exports section contains:Summary Of Exports By Commodity, Exports By Commodity (Monthly and Quarterly), Exports By Country (Monthly)and Exports By Country & Commodity
Imports section contains: Summary Of Imports By Commodity, Imports By Commodity (Monthly and Quarterly), Imports By Country (Monthly), Imports By Country & Commodity, Government’s Imports By Commodity (Monthly); and Government’s Imports By Country (Monthly)
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THE PERFORMANCE OF THE SUDANESE ECONOMY FOR THE PERIOD 1997- DECEMBER 2004 UNDER THE MONETARY HARMONIZATION PROGRAM (M.H.P.)
The Sudanese Economy performed relatively high during the period 1997-Dec. 2004 with an average real GDP growth of 6.5%. This is mainly due to the increase in the contribution of Agricultural & Services Sectors to the GDP, by 44.5% and 30.2% respectively by the end of the year 2004. The attached major financial & economic indicators for the period under consideration reflect the positive progress of the economy.
1- Exchange Rate Policy: - The policy adopted resulted in a full unification of the exchange rate. Now banks and exchange bureaus are allowed to transact freely & determine the buying and selling rates according to the market forces. Furthermore, from mid 1999, the exchange rate of Sudanese Dinar is stable around SDD 257 per dollar. Also there are no restrictions on holdings of foreign currencies except on processing the rendered data for statistical purposes.
2- Growth Rate Of Broad Money: - Broad money grew by 37%, 29%, 24.6%, 32.9%, 26%, 30.3%, 30.3% and 30.8% for the years1997, 1998, 1999, 2000, 2001, 2002, 2003 and 2004 respectively. This was mainly attributed to the rigorously monitored monetary & fiscal policies implemented during this period. On the other hand, monetary policy instruments used were as follows: - a- Statutory Reserve Requirements. b- Profit Margins for Murabaha Finance. c- Central Bank Musharaka certificates (CMCs) d- Government Musharaka Certificates (GMCs)).
3- Inflation Rate: - Inflation rate declined to 8.5% on average for Dec. 2004 compared to 12.6% on average for Sept. 2004. Therefore, monetary and fiscal policies will be directed to contain the increase and reduce it to the normal leve
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This section contains:
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This section includes government revenues, current government expenditure and development expenditure
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