Bank of Khartoum under fire

By: Dr. Mahmoud Abdul Jabar

It is apparent tothe people that Bank of Khartoum is now the one which bears the greatest burden in facilitating the transfers of funds to citizens outside and inside the country through its famous application (Bankak), and that was evident during the internet outage and the disruption of banking application, which works on the Internet.
This confirms that the majority of the people of Sudan now depend on the Bank of Khartoum, and its application (Bankak), as it provides great services to customers.
But what us the reality of Bank of Khartoum:

First: Bank of Khartoum is now the largest share of the UAE through Dubai Islamic Bank and the rest of the shares for people and national institutions with the entire administration of the UAE.

Second. Bank of Khartoum, after it was a loser and worthless among Sudanese banks, suddenly told the Central Bank if Sudan that it would operate Bankak application and said that it would cost it a lot and want a monopoly advantage for this application for a period of three years without allowing any other bank to create a banking application.
It gave it this advantage, which enabled it to attract most of the country’s other bank customers, for easy access to money at any time of day or night.
After the concession period, the rest of the banks were allowed to establish banking applications, such as Fawry of Faisal Islamic Bank, and Absher of the Sudanese Agricultural Bank, and others.
On the clearing system in the banking system, and after the war, the clearing system collapsed, and the Bank of Khartoum was unique in remittances and they are now involved in the largest financing operations for projects,

Third. Most of the accounts used in foreign exchange buying and selling speculation from the Bank of Khartoum, as it is Bankak application. Large numbers of the militia’s followers and supporters have accounts in the Bank of Khartoum throughout the country, which facilitated the transfer of looted funds and the flow of looted money.

How do we deal with the Bank of Khartoum issue? The aim of the treatment is to secure our national economy on the one hand and to achieve justice in banking activity among all banks operating in the country

Processing points:
1/ Through the prosecution and the judiciary, the activity of most of the accounts belonging to members of the militia, even if they are soldiers or leaders, is frozen by the prosecution and the judiciary, as this is a private and commercial bank, as well ase the suspicious accounts active in foreign exchange speculation. Accounts to review the competent authorities about these procedures, so whoever is proven to be acquitted, his account will be opened for him.
2/ Establishing banking applications that operate without the Internet in competing banks to enhance their role and position among customers, with support with local cash from the Central Bank of Sudan, especially the banks owned by the state, because the bank gains the customer’s confidence easily, the procedures in withdrawal and deposit.
3/ Disbursing all the salaries of state workers through public sector banks, and it is possible for the public sector banks to pay the salaries of state workers, with the application of the concerned bank and take its value in comfortable installments.
4/ Paying all the salaries of the military Army and other regular forces by applying in the bank owned by the armed forces.
With this, we can avoid major disasters, restore confidence in our banking system, and support our development banks.

It is worth noting that we are at war.

Mahmoud Abdul-Jabbar.
Head of National Comprehensive Project
Former presidential candidate