Forum of the Union of Arab Banks on Electronic Payment Kicks-off

Mohamed Abdalla

The good governance, transparency and fighting against corruption were the main objectives of the Sudan government said the prime minister and the minister of Finance and Economic planning Mutaz Musa on Tuesday, while he was addressing the two days “Forum” of “Enhancing Financial Stability and Changing into Electronic Payment System” which convened at Corinthia Hotel in Khartoum the capital city of Sudan.
The prime minister assured that Sudan exerts efforts to realize the sustainable development goals that based on “Technology” he appreciated the role of the Union of the Arab Banks in promoting banking system in Arab World as well as in Sudan.
“Electronic Payment is very important and it has positive impacts on livelihood, job opportunities, poverty reduction and unemployment” added Mutaz Musa.
He stated that 90% of the cash is out of the banking system, the matter that deserve double efforts to reform the economical organizational structure through partnership between private and public sectors to meet the modern technology of banking.
While the governor of Central Bank of Sudan Mohamed Khair Ahmed Al-Zubair appealed to more coordination regionally and internationally to fight against terrorism and money laundering, he also focused on the importance electronic payment to avoid cash scarcity.
On his part, the secretary general of Union of Arab Banks Husam Hassan Fatoh has revealed that the volume of electronic investment totaled US$ 58,900 billion, while in Arab countries reached to only US$ 900 million; he called on changing from cash into electronic payment.
The president of Sudan Banks Union has demanded for improving the electronic payment infrastructure which based on financial institutions, banks and insurance companies.
It noteworthy, that the event was organized by Union of Arab Banks in collaboration with Sudan Bans Union and the Central Bank of Sudan, the was focused on the importance of “Electronic Payment”, also the forum was presented by the former minister of finance and the current chairman of economic committee of the parliament Ali Mahmoud and the minister of information, telecommunication.
Many papers are going to be discussed by economists and experts in the field of electronic payment.

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