Sudan, US see first bank transfer in 24 years

Alaturka Ekonomi Haberleri

By Mohammad Khbeisa

ISTANBUL (AA) – Sudan recently transferred funds to a bank in the US, marking the first such transaction between the two countries in 24 years.

Sudan’s ambassador to the US, Nureldin Sati, told the Voice of America broadcasting network late Wednesday that he received a trial money transfer from Qatar National Bank’s branch in the capital Khartoum to his personal account at Wells Fargo bank in the US and expects other transfers to be conducted soon.

In December last year, the US announced that it had officially removed Sudan from its list of state sponsors of terrorism after the country was added in 1993.

Sati noted that such a direct transaction will open the way for further money transfers not only between the two countries but with the world.

A few weeks ago, the US Treasury Department issued a statement encouraging banks and financial companies to carry out direct operations with Sudan.

Sati added that a trial money transfer will also be carried out from a US bank to Sudan, and should it succeed, Sudanese nationals in the US would be able to transfer money to their country.

Sudan is experiencing a severe economic crisis with the Sudanese pound facing a huge collapse in value against the US dollar, hitting 400 pounds to the dollar in the Sudanese black market.

*Ahmed Asmar contributed to this report from Ankara