Central Bank Policies for the Year 2023 Encourage Green financing

The Central Bank of Sudan issued its monetary policy for the year 2023, which aims to achieve monetary stability, contribute to achieving financial stability, enhance financial inclusion and encourage green financing by creating favorable opportunities for sustainable financing to meet the challenges and risks of climate change.
The policies also aim at stabilizing the general price level, reducing the inflation rate to 25% by the end of 2023, a growth in the monetary base at a rate of 57%, and a growth in the money supply at a rate of 28%.
The monetary policy, a copy of which “SUNA” obtained, aims to maintain the flexibility of the exchange rate and continue to unify the foreign exchange market and to guarantee that the central Bank specified the legal monetary reserve for the Banks to be 20 % of the total deposits subject to reserve in addition to open market operations and the operations of exchange purchase and sale of foreign currencies, prohibiting banks from financing trading in foreign currencies, buying financial stocks, paying existing and stalled financing operations, in addition to preventing trading in telecom balance and its uses, buying real estate and lands other than those permitted in accordance with the regulatory controls, and buying gold and its waste.
The Central Bank of Sudan obligated banks, exchange companies, financial transfers, leasing companies and microfinance institutions to implement the new policies as of January 1 of next year.