February4, 2020 (Khartoum) -The Ministry of Finance and Economic Planning announced Monday that the Sudanese Central Bank of Sudan in no longer purchasing or exporting gold, while gold merchants and the Sudanese employers’ group welcomed the decision and considered it a major achievement that encourages traders in the market and develops the economy.
The Sudanese Ministry of Finance has allowed the private sector to export gold through advance payment, provided that the gold exports are supplied to the Ministry of Finance and Economic Planning to support of the country’s resources to meet the country’s import of strategic goods.
According to the Ministry of finance, the prices are rewarding for the agreed upon exporter with the Ministry based on the prices of the Dubai Gold Exchange.
The Ministry made it possible for companies operating in the field of mining wastes to export 15% of the remaining production after collecting the significant profits from the total production of the companies concerned.
However, the gold companies can maintain their accounts inside Sudan and use them according to the applicable export controls, along with selling the remaining percentage (85%) to the Bank of Sudan