Turning Willingly to the Banks to Deposit Savings

Ahmed Ibrahim

Khartoum – As indicated by the central bank of Sudan, the banks and through completion of certain procedures, such as increase of working hours and simplicity of procedures to open accounts, are now ready to receive the deposits of the clients.
But, in the eyes of the economists, such a move should be preceded by a more practical and radical step; restoration of clients’ trust in the banking system.
The issue has been tackled by many economists. To begin with, banking expert, Dr. Osman Al-Toum, calls for the setting of a comprehensive plan so that the clients can easily deposit their money at banks -on condition that banks should be ready to satisfy their requirements of money once something as such is needed.
Economic analyst, Haitham Fathi, says that banks in Sudan have been suffering from acute problems which are manifested in ability to satisfy the needs of the depositors, pointing out that the recent period has witnessed many initiatives to attract the citizens’ and traders’ savings to the banking apparatus. ‘But to no avail. The banks have failed to return back the citizens’ deposits’.
Abdallah Al-Ramadi, economic expert, says that what has been done by the central bank of Sudan is fruitless, advising that the radical solution to the liquidity crisis resides in the availability of enough quantities of money, assuring that if something as such is to materialize, then the queues before the banks and the automatic teller machines will automatically disappear. ‘Then the equation will get reversed; the citizens are to return back willingly to banks to deposit their savings’.

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