Banking industry occupies a great importance in the economic and social life، because the banking sector is the main element in establishing confidence in the state policy and its protection of economic interests. This demands work on finding a strong banking sector، which helps on supplying necessary financing to the different sectors to start their activities، and offering bank services with all its different kinds.
"And we believe that the development and renovation and modernization of banking regulations to be able to attract savings and attract funds for investment and contributing to development has become necessary and urgent." So declared Mr.Murad, in his speech on the constitutional section, the reorganization of the banking sector is today the priorities of Sudan.
For four decades, the Sudan banking sector has a number of state- owned banks and the Central bank.
With opening of the first privet banks in Sudan and the introduction of measures to modernize the banking sector in order to encourage better financial intermediation and foster private sector growth, the sector is expected to undergo further major transformation; however, great deal remains to be done.
In this context, the Government of Sudan had requested EU support for the banking modernization process and making the Bank Training Center (BTC) fully operational.
This support was then formulated into a new project – the Banking Sector Support Programme II (BSSP II).
The suggested scope of the Project is geared towards addressing weaknesses in the critical banking areas including accounting and reporting, risk management controls, product management and development, treasury and administrative procedures, with the particular emphasis on the modernization of the Central Bank.
BSSPII aims at achieving to train key staff at different levels in the banks, develop sustainable banking training programmes based on overall bank reform strategies and needs analysis, and delivery and operational use of relevant training equipment for the Bank Training Centre and/or the training departments of the banks.
Therefore, training component and support in the establishment and operational setup of the Bank Training Centre (BTC) are one of the key implementation activities of BSSPII.
The Central Bank of Sudan will be reinforced as an independent regulator of the banking sector.
Finally, the project will support the state-owned banks to elaborate and execute policies and programmes for their operations as modern banks in a competitive environment.
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