The importance of the development of the banking system in Sudan ✍️ Professor: Fikri Kabbashi, Al-Amin Al-Arabi

I believe that after the end of this accursed war, despite all its evils and the material and moral destruction it caused in Sudan, it provided the opportunity to seriously think about reconstruction so that the development of Sudan begins after the end of this accursed war from which others have renounced progress and development. Certainly not necessarily for those who arrived late. To begin its development by reinventing the wheel and repeating the same mistakes made by those who preceded it, who were slow to catch up. Of course, this follows from what I have always repeated in previous articles, that the next stage of reconstruction must be led by science, paying serious attention to scientific research and technical development, and giving sufficient attention and attention to studies that encourage creative innovations. , and learning to adapt (technology) from the old school in a way compatible with the current state of the world, and it is obvious that the conditions for joining the ranks require a creative imagination and an open, evolving mentality that love. intellectual freedom while preserving and adhering to originality, heritage and tolerant moral and religious values ​​transmitted from generation to generation and through the ages. Furthermore, one of the most important reasons for the lack of development of the banking system in Sudan is the continued inability to innovate in the equation that governs the combination of all these elements represented by the rich resources and capacities available, and the qualification of human executives. by providing solid training methods, and by not benefiting from technology data, by an openness to… Sudanese universities to play their role in serving society by contributing to the planning and implementation of training programs that contribute to skills development.

In addition, Sudan, after this cursed war, requires numerous procedures and amendments to the laws of the Central Bank, which requires it to adopt integrated programs to take control of these banks and help them increase their financial capacities and techniques to keep pace with the crisis. changes and prepare to face the expected challenges required by the stage of rebuilding what was destroyed by this damn war, and therefore it is necessary to reconsider the extent of the possibility of developing banking services for Sudanese banks can face the big challenge, and they need to increase their capacity and capacity to develop their banking services in the future, so as to enable them to compete with international giant banks and financial companies in the field of financial services, with human, organizational and advanced resources. We can imitate several Asian countries which have managed to obtain a significant share of subcontracting contracts with large multinational companies and banks. This contributed to the development of the countries commonly called (the Asians). Tigers), including South Korea, Singapore, Hong Kong and Taiwan. Other countries have benefited greatly from the globalization of outsourcing, such as Malaysia, Indonesia and Thailand.

I believe that the Sudanese banking system, as a contributing factor in the application and execution of monetary and financial policies, represents the beating heart of the economy and, given the new economic reality that Sudan is experiencing, the banking system must be ready to play its expected role in reconstruction. With a quick review of the development and growth of the banking system in Sudan over the past period, we find that it has been exposed, from its inception until today, to a number of important influences which affected its evolution throughout the previous period. The first Bank of Sudan was established in 1898 as a branch of the National Bank of Egypt and has remained since then… The banking system provides its financial services to Sudan The Bank of Sudan was established after independence in as a central bank. with its legal personality and as a government bank, exercising the powers of the Ministry of Finance in the definition of credit policies and the implementation of monetary policies related to the control of liquidity and money supply. At the beginning, the main and fundamental role of the Bank. of Sudan plays the role of the Central Bank, it is necessary to accelerate the pace of strengthening the Sudanese electronic banking network, which must include all banks operating in Sudan, and to develop the automated clearing house so that the liquidation of activities Banking and settlement of various payment methods agreed at the Sudanese and international levels can be implemented quickly, simply and easily.

This is then followed by the rehabilitation of the banking system by paying attention to attracting qualified human cadres and moving towards modernization of physical equipment and establishing local banks and equipping them in accordance with the latest modern technological developments in the banking field, which will inevitably contribute to the creation of new advanced systems. and innovative banking services tailored to customer needs and desires. Local commercial banks must understand the importance of leveraging contemporary technologies and using them to provide advanced electronic banking services to customers by developing automated teller machines, adding point-of-sale services and issuing credit cards using the latest findings from the global market. banking sector in the field of appropriate mechanisms, equipment, programs and applications, in addition to the trend, commercial banks provide advanced financial services, we cannot ignore the most important role for the integrity of the banking system, which works seriously to develop. programs capable of attracting the large part of the money supply in circulation today outside the banking system. Therefore, we must strive to change the negative perceptions of customers towards the banking system, which have become ingrained in the minds of customers over the past period due to some poor practices, and work towards restoring the confidence in Sudanese banks by working to increase confidence in Sudanese banks. banking awareness. This also includes, I repeat, diligence and labor of use… Modern technological developments and monetary and financial innovations are more effective than before, which will inevitably lead to a major change in the theory of demand of currency. In other words, any individual or organization will be able to keep a small amount of money as long as it is possible to use ATMs, which must be widespread throughout the country according to scientific and practical studies, in addition to the research. spread point-of-sale devices in major shopping centers, which will give shoppers the opportunity to pay quickly and without waiting, and also encourage customers to use credit cards and applications on mobile devices, which will eliminate the need to keep a large amount of money in cash. Money, which reduces the demand for liquidity in all circumstances.

Likewise, local banks must pay special attention to bank marketing and give it an effective role within their internal administrative systems. Commercial banks should strive to break the envelope of limited capabilities and work seriously and impartially towards the optimal employment of all available material and human resources. resources. The merger of certain banks with financial capabilities can be encouraged. You should also pay attention to specialized banks. We know that specialized banks are banks each of which specializes in a specific banking activity, and their philosophy is based on. achieve the public interest development goals in accordance with the economic guidelines of the state, regardless of profitability, while we find that commercial banks have the same concept as The basic principle is based on profitability as the main objective that the bank seeks to achieve. Therefore, emphasis should be placed on ensuring that all specialized banks remain state-owned so that they can provide their financial services in accordance with the requirements of social and economic development. This also contributes to the success of financial and monetary policies aimed at achieving the public interest. of Sudan, taking into account Sudan's urgent need for specialized banks, at the current stage and taking into account the demands and requirements of development and economic conditions that Sudan is going through after the end of this damn war, which destroyed everything that was green and dry, therefore. so that the desired social development can be achieved and in order to support the current trend of attracting more foreign investment in various fields.

Teacher: Fikri Kabbashi Al-Amin Al-Arabi.

April 30, 2024 AD.

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