Sudan Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in sudan, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
Select Country Guide
Trade Financing
Last published date:

For more information about the methods of payment or other trade finance options, please read the Trade Finance Guide available.

Banking System

Sudan’s financial system is relatively small by regional standards.  The banking sector comprises almost 40 banks, including five foreign and four state-owned banks.  Sudan’s banking sector remains under capitalized, deficient in employing modern technology, and lacking in trained and experienced human resources.  Most banks and other financial institutions are concentrated in Khartoum.  Most foreign banks operating in Sudan are based in Gulf states, including Saudi Arabia, United Arab Emirates, and Qatar.  The Central Bank of Sudan lists banks operating in Sudan.

The financial and banking sector is regulated by the Central Bank of Sudan (under the Sudan Central Bank Act, 2002), the Khartoum Stock Exchange (under the Khartoum Stock Exchange Act, 1994) and the Insurance Supervisory Authority (under the Insurance Control Act, 2001).

Sudan has a home-grown, unique Islamic banking system and is in the process of reintroducing conventional banking practices.   

Foreign Exchange Controls

The Central Bank of Sudan abandoned its managed float policy in March 2022 and allowed the Sudanese Pound to float against other currencies, allowing market forces to determine its value.  The Central Bank has reversed stringent conversion and transfer policies in place under the CLTG and domestic businesses have so far been able to secure adequate hard currency to pay for imports and to facilitate foreign-currency transactions. 

Foreign companies operating in Sudan require the Central Bank’s permission to repatriate profits and foreign currency.  The Investment Act of 2013 enshrines the right to repatriate capital and profits, provided the investor has opened an investment account at the Central Bank before starting operations.  Although black market transactions are significantly reduced since the Central Bank jettisoned a fixed exchange rate in 2021, many Sudanese firms still complete a significant number of transactions outside of official channels or complete transactions abroad in U.S. dollars, euros, riyals, or dirhams.  The Investment Act also established courts to handle investment issues and disputes, however the judiciary has limited expertise adjudicating commercial disputes.

U.S. Banks and Local Correspondent Banks

No U.S. banks operate in Sudan.  The Export-Import (Ex-Im) Bank does not offer any Sudan-specific programs.

×

Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

Privacy Program | Information Quality Guidelines | Accessibility