Southern Banking: Requirements Set for

UNCLAS KHARTOUM 000813

SIPDIS

DEPT FOR AF/SPG AND EB/IFD

SIPDIS

E.O. 12958: N/A
TAGS: EFIN ECON SU
SUBJECT: Southern Banking: Requirements Set for
Establishing Banks, Forex Bureaus



1. Per resolution 6/1/2006 of the Board of Directors of
the Central Bank of Sudan and the Deputy Governor of the
Central Bank of Sudan/President of the Bank of Southern
Sudan, the capital requirement for establishing
conventional banks in Southern Sudan is as follows:

-- The paid up capital for national banks should be USD 6
million, to be paid in three installments of USD 2
million annually for three consecutive years; and

-- The paid up capital for foreign banks should be $15
million, to be paid in three installments of $5 million
annually for three consecutive years.


2. On March 27, the Bank of Southern Sudan announced
that parties seeking to establish foreign exchange
bureaus could submit applications to the Bank to obtain
licenses.

STEINFELD