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Local news - Economy

Central Bank of Sudan, Ugandan Central Bank agree to facilitate trade


Kampala, Nov. 14 (SUNA) - The Central Bank of Sudan (CBOS) has announced signing of agreement with the Ugandan Central Bank on trade facilitation and economic integration between Sudan and Uganda.
"I held a meeting Tuesday with the Acting Governor of the Central Bank of Uganda and his aides in Kampala on how to facilitate trade between the two countries and the integration of the two economies," CBOS Governor Hazim Abdul-Gadir told Sudan News Agency.
"The Ugandan side has agreed to open a branch of the Agricultural Bank of Sudan in Uganda to assist in the marketing of agricultural machineries and equipment made in Sudan," the Central Bank of Sudan Governor said, pointing out that the Ugandan side requested to benefit from the experience of Sudan in Islamic banks to meet the requests of some of its clients who want to deal with the Islamic Banking System.
Abdul-Gadir said that the two sides deliberated on how to arrange the Sudanese-Ugandan-Arab investment Forum in Khartoum, adding that the President of the Republic's visit to Uganda will contribute to strengthening the relations and enhancing the role of the private sector.
Meanwhile, the CBOS Governor said that he had held several meetings with foreign banks during the past period, revealing that also received facilities from UAE banks, which will affect the prices of commodities and the economic situation during the first quarter of 2018.
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