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Sudan dissolves the Boards of Central bank and 11 other state owned banks

Summary:
News from Sudan: A Sudanese legal committee dissolved the boards of the country’s central bank and 11 other state-owned banks under a law that aims to dismantle the regime of the toppled president Omar al-Bashir, the committee said on Thursday. The Empowerment Removal Committee also fired the managers of eight of the banks, it said. Badr Eldin Abdelrahim, the central bank governor, remains in his post and new boards will replace the dissolved ones soon, a committee member told Reuters. Sudan in November passed a law to dismantle the system built by Bashir, who was ousted in April after nearly three decades in power. Last month, the legal committee formed to apply the law seized the assets of Bashir’s now dissolved National Congress Party. The committee said on Thursday that it also

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News from Sudan:

A Sudanese legal committee dissolved the boards of the country’s central bank and 11 other state-owned banks under a law that aims to dismantle the regime of the toppled president Omar al-Bashir, the committee said on Thursday.

The Empowerment Removal Committee also fired the managers of eight of the banks, it said. Badr Eldin Abdelrahim, the central bank governor, remains in his post and new boards will replace the dissolved ones soon, a committee member told Reuters.

Sudan in November passed a law to dismantle the system built by Bashir, who was ousted in April after nearly three decades in power.

Last month, the legal committee formed to apply the law seized the assets of Bashir’s now dissolved National Congress Party.

The committee said on Thursday that it also dissolved the boards of nine government companies and institutions, and that it will appoint commissioners to run two private newspapers whose assets were frozen last month.

Phew..

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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