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Finance
operative movement, the Islamic Co-operative De-
velopment Bank has become a pioneer in the field
of Islamic banking products and services. Also the
bank was registered as a public share company in
accordance with the Sudan’s Companies Ordinance
on 24/3/2001 with the same objectives represent-
ed in support and development of the cooperative
movement, encouragement of saving, provision of
financing facilities, carrying out all the banking busi-
ness and contribution in application of the principles
and concepts of the Islamic economy.
The activities of the bank focus on two sectors: com-
mercial banking and agricultural financing (develop-
ment). It helps financing small projects for small-
scale producers and craftsmen thanks to adapted
credits. Concerning commercial banking, the Islamic
Co-operative Development Bank offers a wide range
of products and services: various types of deposits,
transfers, letters of guarantee and credit, promotion
of savings facilities, and so on.
The bank, which follows the principles of Islamic
banking, has around 32 branches throughout the
country.
KHARTOUM STOCK EXCHANGE
Al Baraka Tower, Zabeer Basha St.
PO Box 10835, Khartoum
Tel: + 249 183 782450 / Fax: + 249 183 782225
info@khartoumstock.com / www.kse.com.sd
Activity: finance
Date of Creation: 1994
The project of implementing a security market in Su-
dan first appeared in 1962, but the Act for a security
market was passed only in 1982. In the 1992, with
the liberalization policies of the three-year salvation
program, the Council of Ministers approved the Act
of 1982. As it had not satisfied all the requirements
to establish such a market, a new Act to create the
Khartoum Stock Exchange was passed in June 1994
by the Transitional National Assembly. The KSE then
became an independent legal entity. On October
1994 it started working on the primary market (is-
sue market), and in 1995, on the secondary market
where shares are traded).
The KSE follows the rules of the Islamic Sharia and
its objectives are:
• the organization and supervision of the issue of
securities
• encouraging saving by citizens and raising capital
for public companies to activate the private sector
and enhances its financial abilities in order to
boost the growth of the economy
• promoting and encouraging investment in
securities
• creating the necessary investment environment
• establishing a code of conduct and fairness
among the various investors
• guaranteeing equal opportunities for those dealing
in securities in order to protect small investors.
In the KSE, there is no discrimination against
foreigners, anyone can come, buy and sell in the
primary and secondary markets.
NATIONAL BANK OF SUDAN
Charbel Moubarak
General Manager
Al Qasr Avenue
PO Box 1183, Khartoum
Tel: + 249 183 778153
Fax: + 249 183 779545
charbel.moubarak@nbs.com.sd
Activity: finance, investment banking
Capital: 75 million USD
Ownership: private
The National Bank of Sudan is a privately owned
bank, belonging to Bank Audi at 76%. It is going to
be renamed according to this main ownership. Thus,
everything is going to change: the National Bank of
Sudan will undergo an important transformation and
have a different philosophy, culture and the back-
ground of a more conventional bank.
Part of the National Bank of Sudan acts under the
Islamic banking system. It offers commercial, retail,
corporate and private banking as well as wealth
management. Some of its clients are big local com-
panies such as El Nefeidi Group or Araak.
The bank has a capital of 75 million USD and a re-
turn on equity of 20%. The National Bank of Sudan
has 8 branches. Its objective is to be one of the main
players in the region. It is a real professional bank
that provides advice to do business to international
business travelers as clients or partners. It takes into
account the remarks or input they may have in order
to always better the offer and services.