Bank of Sudan Announces New Gold Policies

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The Central Bank of Sudan and the Ministry of Minerals announced new policies to buy and export gold. The new policies, which come into effect today, will allow the private sector to export 50 per cent of gold it buys, and sell the other half to the Bank.

The new policy has also given greater incentive allowing companies to export 60 per cent of their production and sell the remaining 40 per cent to the Central Bank at the current price. The new policy also has allowed the private sector to export 50 per cent of the quantities it buys, with the freedom to dispose of its revenues and sell the other 50 per cent to the Central Bank.

The Director of the Central Bank of Sudan, Hazem Abdelgadir announced the Bank’s readiness to start to accept any requests from companies, individuals, and businesses to export gold as from Sunday, March 26th.

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