Central Bank of Sudan

The Central Bank of Sudan, historically known in English as the Bank of Sudan, is Sudan's monetary authority and central banking institution. It was established in 1960, four years after Sudan became independent, and is headquartered in Khartoum. Its institutional role includes issuing and managing Sudan's currency, administering monetary policy, overseeing parts of the banking and financial system, managing official accounts and external payments, supporting financial stability, and developing rules for banking activity. The bank also has a distinctive responsibility in Islamic finance, reflecting Sudan's adoption of Sharia-based financial requirements in the 1980s. The institution emerged from Sudan's early post-independence effort to create a national monetary system. In 1957, the government established the Sudan Currency Board as an initial currency authority. A commission of specialists associated with the United States Federal Reserve subsequently worked with Sudanese officials and finance experts on legislation for a central bank. The resulting Bank of Sudan Law was prepared in 1959, and the new bank began operations the following year. At launch, the government combined the currency board with the Sudanese operations of the National Bank of Egypt, which had operated approximately seven branches in Sudan and was nationalized for this purpose. During the 1960s and 1970s, the institution became closely involved in the restructuring and nationalization of Sudan's banking sector. In 1965, it joined Crédit Lyonnais in creating Al/An/El Nilein Bank, with the Bank of Sudan holding the majority stake. In 1970, the Sudanese government nationalized the country's banks and reorganized a number of foreign-bank operations under new Sudanese identities. These changes affected banks that had originated from British, Egyptian, Jordanian, Ethiopian, French, and other international banking networks. Several later mergers produced institutions such as Unity Bank and Nilein Industrial Development Bank. Although these commercial-bank arrangements changed over time, they illustrate the central bank's historical importance in shaping Sudan's financial architecture. Islamic banking became a major policy area after Sudan introduced Islamic law in 1984. In 1993, the government created the Sharia High Supervisory Board to review financial practices for conformity with Islamic principles. In place of conventional treasury bills and government bonds, the authorities developed financial certificates structured to comply with Islamic finance requirements. The central bank has therefore operated not only as a conventional monetary authority but also as a regulator and policy institution within a predominantly Islamic financial framework. The bank has periodically used credit and monetary programs to support economic stabilization and channel finance toward priority sectors. Policies associated with the Three Year Economic Program of 1990–1993 and the credit policy of 2000 emphasized monetary stability, more efficient use of banking resources, financing for priority economic activities, social support, and restrictions on direct central-bank financing of public corporations. Commercial banks were also permitted to provide foreign-currency financing under central-bank rules. The institution has pursued financial-inclusion policies and has been associated with the Alliance for Financial Inclusion. Its regional branch structure has reflected Sudan's large territory. Branches have operated in locations including Khartoum, Wad Madani, Kosti, Atbara, Al Qadarif, Nyala, Al-Ubayyid, Dongola, Port Sudan, and Al-Fashir. The Juba branch became part of the Central Bank of South Sudan after South Sudan gained independence in 2011. The 2023 Sudanese civil war severely disrupted the bank, the national payments system, currency circulation, and the wider banking sector. The Khartoum headquarters was heavily damaged during fighting in April and May 2023, amid competing reports of attacks and bombardment. In June 2023, the bank announced emergency measures intended to sustain banking operations, including salary payments and liquidity support for citizens. Sudanese authorities later reported that the Sudanese Armed Forces retook the headquarters in March 2025. The bank also announced measures concerning gold exports in 2025 and reportedly resumed operations in Khartoum in January 2026. These developments underscore the institution's continuing role in preserving monetary and banking functions during prolonged political and military instability.

Sudan's central banking system developed during the transition from colonial administration to independence. When Sudan became independent in 1956, it lacked a fully autonomous national monetary institution. The government responded by creating the Sudan Currency Board in 1957. A three-member expert commission associated with the United States Federal Reserve then worked with Sudanese government and financial officials to prepare legislation for a central bank. The Bank of Sudan Law was completed in 1959, and the Bank of Sudan began operating in 1960. The new institution was built partly through the consolidation of existing monetary and banking infrastructure. The government nationalized the Sudanese operations of the National Bank of Egypt, which included roughly seven branches, and combined them with the currency board. This gave the new bank a practical branch network and administrative base. Its responsibilities included currency issuance, monetary management, official accounting, external payments, and the development of a regulated banking sector. The bank also participated directly in the evolution of Sudanese commercial banking. In 1965, it formed Al/An/El Nilein Bank with Crédit Lyonnais. The French bank contributed two branches established during its earlier Sudanese operations, while the Bank of Sudan held 60 percent of the joint venture and Crédit Lyonnais held 40 percent. A major restructuring followed in 1970, when the Sudanese government nationalized all banks operating in the country. Foreign institutions and their branches were assigned new Sudanese identities and reorganized within the state banking system. Barclays Bank's extensive branch network became the State Bank of Foreign Trade and later Bank of Khartoum. Bank Misr's branches became the People's Cooperative Bank, while Arab Bank's branches were reorganized as the Red Sea Bank or Red Sea Commercial Bank. The Commercial Bank of Ethiopia's Sudanese branch became Juba Commercial Bank, and National and Grindlays Bank's branches became Omdurman Bank. Further mergers reshaped the sector. The Red Sea Bank and People's Cooperative Bank were merged into Omdurman Bank in 1973. Omdurman Bank later merged with Juba Commercial Bank in 1984 to create Unity Bank. In 1993, Al/An/El Nilein Bank merged with the Industrial Bank of Sudan to form Nilein Industrial Development Bank. In 2006, Dubai-based Emaar Properties and Amlak Finance acquired a 60 percent stake in that institution, while the Bank of Sudan retained 40 percent. Islamic finance became central to the bank's regulatory mission after Sudan introduced Islamic law in 1984. The banking and financial sectors were required to adapt their practices to Sharia principles. In 1993, the government established the Sharia High Supervisory Board to assess financial practices and instruments. Conventional treasury bills and government bonds were replaced or supplemented by financial certificates designed to comply with Islamic financial rules. The central bank consequently became responsible for monetary and banking administration within a system that differed from the conventional interest-based model used in many other countries. From the 1990s onward, the bank pursued programs aimed at economic revitalization, monetary stability, credit allocation, and social support. Policies associated with the Three Year Economic Program from 1990 to 1993 sought to improve the use of banking resources and direct financing toward priority sectors. The credit policy of 2000 continued this orientation, emphasizing supply-side measures, monetary stability, support for poorer households, financing of public corporations through commercial banks rather than direct central-bank lending, and regulated foreign-currency financing by commercial banks. The bank also developed financial-inclusion policies and became associated with the Alliance for Financial Inclusion. Sudan's territorial reorganization affected the bank's branch network. Branches operated in Khartoum, Wad Madani, Kosti, Atbara, Al Qadarif, Nyala, Al-Ubayyid, Dongola, Port Sudan, Al-Fashir, and other locations. Following South Sudan's independence in 2011, the Juba branch became part of the Central Bank of South Sudan. The 2023 civil war created the most serious operational disruption in the institution's history. Fighting damaged the Khartoum headquarters and disrupted banking, payments, cash distribution, and economic activity across the country. In June 2023, the central bank announced emergency measures to support banking continuity, including salary payments and liquidity provision. Reports also described attacks and bombardment around the headquarters, with the Rapid Support Forces and Sudanese Armed Forces contesting control of the capital. The Sudanese Armed Forces reportedly retook the headquarters in March 2025. Later reported measures included a 2025 prohibition on private-sector gold exports, intended to combat smuggling and preserve foreign-exchange reserves. In October 2025, Amna Mirghani Hassan al-Toum was appointed governor and became the first woman reported to hold the office. The bank reportedly resumed operations in Khartoum in January 2026.

• 2026

  Khartoum operations reportedly resume

  [1]Central Bank of Sudanen.wikipedia.org

  The central bank reportedly resumed operations in Khartoum after the wartime disruption.

• 2025

  Headquarters reportedly retaken and gold-export restrictions introduced

  [1]Central Bank of Sudanen.wikipedia.org

  The Sudanese Armed Forces reportedly retook the Khartoum headquarters, while the bank reportedly prohibited private-sector gold exports to limit smuggling and protect reserves.

• 2023

  Headquarters damaged during civil war

  [1]Central Bank of Sudanen.wikipedia.org

  The Khartoum headquarters was heavily damaged during fighting, and the bank introduced emergency measures to sustain financial operations.

• 2011

  Juba branch transferred to South Sudan's central bank

  [1]Central Bank of Sudanen.wikipedia.org

  After South Sudan became independent, the former Bank of Sudan branch in Juba became part of the Central Bank of South Sudan.

• 2006

  Stake in Nilein Industrial Development Bank sold

  [1]Central Bank of Sudanen.wikipedia.org

  Emaar Properties and Amlak Finance acquired a 60 percent stake in the bank, while the Bank of Sudan retained 40 percent.

• 2000

  Credit policy emphasizes stability and priority sectors

  [1]Central Bank of Sudanen.wikipedia.org

  The bank's credit policy emphasized monetary stability, improved use of banking resources, priority-sector financing, social support, and regulated foreign-currency lending.

• 1993

  Sharia supervisory framework established

  [1]Central Bank of Sudanen.wikipedia.org

  The government created the Sharia High Supervisory Board, and Al/An/El Nilein Bank merged with the Industrial Bank of Sudan to form Nilein Industrial Development Bank.

• 1984

  Banking system shifts toward Islamic finance

  [1]Central Bank of Sudanen.wikipedia.org

  Following the introduction of Islamic law, Sudan's banking and financial practices were required to conform more closely to Sharia principles.

• 1970

  Sudanese banks nationalized

  [1]Central Bank of Sudanen.wikipedia.org

  The government nationalized banks operating in Sudan and reorganized several foreign-bank networks under new Sudanese names.

• 1965

  Nilein Bank joint venture formed

  [1]Central Bank of Sudanen.wikipedia.org

  The Bank of Sudan and Crédit Lyonnais established Al/An/El Nilein Bank, with the central bank holding a majority stake.

• 1960

  Bank of Sudan begins operations

  [1]Central Bank of Sudanen.wikipedia.org

  The institution began operations after combining the currency board with nationalized National Bank of Egypt operations in Sudan.

• 1959

  Bank of Sudan Law prepared

  [1]Central Bank of Sudanen.wikipedia.org

  Sudanese officials and financial specialists, with assistance from a Federal Reserve-linked expert commission, prepared the legislation for a central bank.

• 1957

  Sudan Currency Board established

  [1]Central Bank of Sudanen.wikipedia.org

  The newly independent Sudan created the Sudan Currency Board as its initial national monetary authority.

Sudan's sovereign monetary authority and principal institution for currency, monetary stability, banking oversight, foreign exchange, and Islamic financial policy.

• Currency · 1960

  Sudanese pound currency

  The central bank is responsible for issuing and managing Sudan's national currency, including banknotes and coins, and for maintaining the monetary systems through which currency circulates. Currency administration is one of the institution's core sovereign functions.

• Islamic finance instrument · 1993

  Financial certificates

  Financial certificates are government-related instruments developed within Sudan's Sharia-compliant financial framework. They serve functions associated with public financing and monetary management while replacing or supplementing conventional treasury bills and government bonds in a system designed to comply with Islamic principles.

• Central-bank policy

  Monetary and credit policies

  The bank publishes and administers monetary and credit policy intended to promote monetary stability, regulate banking resources, support priority economic sectors, and establish conditions for commercial-bank financing. Its policy tools operate within Sudan's Islamic-finance and foreign-exchange framework.

• Financial regulation · 1960

  Banking supervision and regulation

  The institution provides regulatory oversight and operating rules for Sudan's banking sector. Its responsibilities include setting requirements for banking activity, foreign-currency financing, monetary operations, and compliance with Sudanese financial law and Islamic-finance principles.

• Financial inclusion

  Financial-inclusion programs

  The bank develops policies intended to broaden access to formal financial services in Sudan. Its financial-inclusion work is associated with participation in the Alliance for Financial Inclusion and addresses the ability of households and businesses to use regulated banking channels.

• 2025

  Restrict private-sector gold exportsOther

  Background

  Sudanese authorities sought to combat gold smuggling and preserve foreign-currency reserves during wartime economic disruption.

  Action taken

  The central bank reportedly prohibited gold exports by private-sector actors.

  Aftermath

  The measure was intended to increase official control over gold flows and support the country's foreign-exchange position, although longer-term effects are not established in the supplied sources.

  Source

• 2023

  Introduce emergency banking measures during civil warOther

  Background

  The civil war disrupted banking operations, cash availability, salary payments, and financial infrastructure.

  Action taken

  In June 2023, the bank announced measures intended to sustain banking operations, facilitate salary payments, and provide cash flow to citizens.

  Aftermath

  The measures represented an emergency attempt to preserve core financial services while the bank's Khartoum headquarters and wider banking network were affected by the conflict.

  Source

• 2000

  Adopt credit policy centered on monetary stabilityStrategy

  Background

  The central bank sought to revitalize the economy and improve the allocation of banking resources.

  Action taken

  Its policy emphasized supply-side measures, monetary stability, priority-sector financing, social support, indirect financing of public corporations, and regulated foreign-currency lending by commercial banks.

  Aftermath

  The policy provided a framework for directing credit toward economic and social priorities while limiting direct financing of public corporations by the central bank.

  Source

• 1984

  Align banking with Islamic finance principlesStrategy

  Background

  Sudan introduced Islamic law, requiring significant changes in banking and financial practices.

  Action taken

  The banking system was directed toward Sharia-compliant practices, with the central bank taking responsibility for implementing and supervising the resulting framework.

  Aftermath

  Sudan's monetary and banking instruments developed along an Islamic-finance model, including the use of financial certificates instead of conventional government debt instruments.

  Source

• 1970

  Support nationalization and reorganization of commercial banksStrategy

  Background

  The Sudanese government nationalized banks operating in the country and restructured several foreign-bank branch networks.

  Action taken

  The central bank became part of the state-directed banking structure, under which institutions were renamed, consolidated, or placed within Sudan's national banking system.

  Aftermath

  The reorganization changed the ownership and institutional identities of many banks and led to later mergers, including the creation of Unity Bank and Nilein Industrial Development Bank.

  Source

1. 1Central Bank of Sudanen.wikipedia.org
2. 2Central Bank of Sudan official websitecbos.gov.sd