Central Bank of Sudan Announces Launch of Electronic Capital Flows System

As part of its efforts to promote digital transformation and modernize regulatory procedures, the Central Bank of Sudan (CBOS) announced the launch of the Electronic Capital Flows System. The system is designed to streamline procedures related to foreign investors and facilitate their electronic processing and monitoring through the CBOS electronic portal.  The launch of the Electronic Capital Flows System represents an important step toward establishing and strengthening oversight of the movement of foreign capital by documenting the complete cycle of investment-related procedures, starting with the registration of capital, followed by additions, profit transfers and loans, and ending with the repatriation of foreign capital. The system also provides the Central Bank of Sudan with a unified database of foreign investments, including investor, sector, country, capital and flow data. This will support decision-making, improve the quality of statistics and reports on foreign investment and the balance of payments, and contribute effectively to monetary stability. It is worth noting that commercial bank employees received advanced training on using the system throughout all its stages prior to its launch.BH/BH