Sudan Banking Sector Reforms and Asset Recovery
Since the ousting of former ruler Omar al-Bashir in 2019, Sudan has taken steps toward the Sudanese transitional government’s stated aim of achieving a “modern, democratic nation-state.” Progress has been slow, however, and pervasive economic corruption and strategic challenges, including hardships resulting from the COVID-19 pandemic, continue to create hurdles in delivering demonstrable economic progress for the average person in Sudan. This briefing traces this failure, in part, to the country’s inability to transparently address issues in the banking and financial sectors inherited from decades of mismanagement under the former regime. It highlights several issues for the Government to prioritise in order to foster progressive banking reform.
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