From Sudan Vision Daily

Khartoum – Governor of Central Bank of Sudan (CBOS), Dr. Mohamed Khair Al-Zubair acknowledged weakness of microfinance, pointing out that the amount allocated for it in the banks amounted to billion dollars, benefited from only a few of them.

Addressing the conference of the promotion of Islamic financial services, Al-Zubair said that the state intends to adopt new policies for the microfinance program, where he presented four themes to be dealt with at the conference, which are the funding and projects, financial products, building capacity and spreading.

Al-Zubair called on conferences to find solutions to the problems of microfinance in the Sudan through the said four axes, explaining that the entry of insurance companies in the field of microfinance will remove the obstacle of warranty.
For his part, President of the Sudanese Banks Union, Massad Mohammed Ahmed said that the lack of a correct concept of microfinance led to confusion of the program, pointing to the considerable effort by the State to resolve dilemmas of microfinance, indicating that the risks of microfinance are high and that interest of microfinance policies lead to concrete results.

President of Sudan Academy for Banking Sciences, Prof. Awatif Yousif said that the conference comes as part of supporting microfinance programs.

CBOS had revealed the developing of new policies for microfinance and to take strict measures for banks in the case of non-implementation.

CBOS Director of the Microfinance Unit, Hibba Mahmoud acknowledged the existence of constraints facing the funding, revealing, in a press conference in “SUNA” yesterday, the development of new programs and policies to facilitate the funding process.