name: Central Bank of Sudan
The Central Bank of Sudan (Central Bank of Sudan) is the central bank of Sudan, established in 1960 and headquartered in the capital Khartoum.
When Sudan gained independence in 1956, the establishment of a central bank was a top priority. A committee of three experts from the United States Federal Reserve, in cooperation with the Sudanese government and financial experts, formulated the Sudan Banking Act of 1959, and the Bank of Sudan began operations in 1960. In order to establish the bank, the Sudanese government nationalized the operations of the National Bank of Egypt (about 7 branches) in Sudan and merged with the Sudan Currency Board. In addition to the central bank’s responsibilities, including minting coins and issuing banknotes, managing the country’s internal and external accounting, setting monetary policies and interest rates, the Central Bank of Sudan is also responsible for promoting Islamic banking.
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