Sudan - Financial Sector Assessment Program : Technical Notes
The banking sector is the backbone of the Sudan's financial system and will continue to play an important role as financial intermediary and primary source of financing for the domestic economy. As of December 31, 2003, there were 26 commercia...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC : World Bank
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/708571468340278358/Sudan-Technical-notes http://hdl.handle.net/10986/37379 |
| Summary: | The banking sector is the backbone of
the Sudan's financial system and will continue to play
an important role as financial intermediary and primary
source of financing for the domestic economy. As of December
31, 2003, there were 26 commercial and specialized banking
institutions in Sudan which comprised 23 domestic banks and
3 foreign banks. The operations of these banks are based on
Islamic principles. The Sudanese financial sector is small
relative to Gross domestic product (GDP), but is rapidly
growing. Deposits in the banking sector currently represent
a little over 10 percent of GDP, and credit to the private
sector has been rapidly expanding, driven by a strong
economy. At present, the banking system is small enough that
a crisis would not have much immediate impact on the overall economy. |
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