Use the links in this page to see all the cross-references and discussions about the formal financial system, and in particular the banking system across all the sections

Additional footnotes:

(1) The 9 foreign-owned banks are:

• Abu Dhabi Islamic
• Qatar Islamic
• Qatar National
• Zaraat
• Byblos
• National Egyptian
• Sahel & Sahra
• Arab Bank
• Ivory Bank

These banks are likely to have privileged access to foreign reserves.

Additional background:

About centralization

Centralisation One major characteristic of Sudan is its highly centralised formal systems and institutions. Khartoum, with an estimated population of 10 million people, serves as the center of economic activity in the country. The capital city houses most of the key physical infrastructure, including major manufacturing facilities and the headquarters of major companies. Operations and information are heavily centralised in Khartoum, with political and economic institutions throughout the rest of the country relying heavily on their counterparts in the capital and their data servers [126].

⁉︎ By effectively stopping domestic production and external trade, the conflict has had an immediate impact on all prices, even more so on import prices. Because of the centralisation of the economy and the shutdown of the financial system, production and trade are not just affected in combat areas and for products produced or manufactured in Khartoum, but all across the country and on all products [1].

⁉︎ The high level of centralisation of institutions in Sudan applies to the financial system, which made it vulnerable. Most banks HQ in Khartoum, all bank physical data servers as well and high dependency on CBOS (e.g. one SWIFT). This is one of the main reasons why the whole system shut down at the beginning of the conflict: a single failure point at the CBOS (or the EBS) was enough to paralyze the entire system [1]. For more details about the CBOS and its role in the system, see below in … > Rules & Regulations.