Financial Stability Forum Recommends Banking Governance Enhancement

Shadia Basheri

Khartoum – The forum of financial stability and the shift into electronic payment convened in Khartoum last week has recommended the Central Bank of Sudan to set electronic payment points throughout the country and only in Khartoum. To spread economic awareness among different societies, also the forum recommended establishing electronic payment centers cover the all services and commodities institutions.
The participants appealed to coordination between the government and Banks to promote electronic payment system as a tool for purchasing.
Also the recommendations authorized the Central Bank of Sudan to issue license that allows companies working in the field of “Electronic payment” to invest in Sudan and to provide services due to the international standards alongside enabling companies and experts to access technology and technical support.
While the experts urged the Arab Central Banks to set early warning machines to predict financial crisis, also they demand for adopting various ways to take precautionary measures to tackle crisis.
The forum appealed to Arab Central Banks to assume strong technological infrastructure to facilitate the mission of buying, selling and marketing to support banking safety.
Finally the forum called to set guidance rules to design good technical infrastructure to match the application system of the bank of Sudan to guarantee the application of the measured standards to provide good quality of electronic payment services that offer safety payment.

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