The Sudanese government issued a decision on Saturday to limit the gold trade in buying, selling and exporting through the Central Bank.

The head of the central Hazem Abdul Qader said after his meeting with President Omar al-Bashir: "The central bank will buy gold from the production areas and export it, and any party interested in the precious metal to buy directly from the Bank of Sudan represented in the gold refinery."

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He considered that "the decision will increase the bank's purchases of gold destined for export, which will increase the volume of foreign exchange in the state and reflected on the exchange rate of the national currency."

The agency quoted Abdul Qadir as confirming that the process will be through " Under which the purchase of all export proceeds and all the resources of foreign exchange sellers through the chamber of dealing in foreign exchange within the commercial bank in question. "

Sudan's production of gold reached 107 tons last year 2017. As Sudan aspires to the continent of Africa to take the lead in gold production

The Russian company "Invest" and the Ministry of Resources Intention in Sudan, signed an agreement to explore for gold.

is counting Sudan on gold as a supplier of foreign exchange after losing 75% of its oil revenues, due to South Sudan secession in July 2011.

Source: Agencies

Nadezhda Oniotina


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