Financial and Banking News


Sudan Bans Interest

 The Sudanese Central Bank on 10 December informed all banks in the country that the charging or paying of interest would henceforth not be permitted. The Central Bank's circular amplified a decree issued in February (the Islamic Civil Transactions Act) which banned 'usury', and required all banks to either liquidate their assets and liabilities as of 14 February or restructure them according to accepted...