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Finance
SHIEKAN INSURANCE
AND REINSURANCE CO LTD
Osman Elhadi Ibrahem
Managing Director
Dr. Mohammed Souliman
Chairman
Shiekan Building, El-Souk El-Arabi
PO Box 10037, Khartoum
Tel: + 249 183 782043 / 781656
Fax: + 249 183 776849
shiekan@shiekanins.com
osmanelhadi@shiekanins.com
www.shiekanins.com
Activity: insurance
Date of Creation: 1983
Shiekan Insurance & Reinsurance Co Ltd is a Suda-
nese company, established in 1983. The company’s
shareholders are: The National Economic Corpo-
ration, the policyholders and Khartoum Trading &
Shipping Co, Ltd The company’s authorized capital
is US$ 5.000.000.
Shiekan transacts the cooperative insurance which
dictates the distribution of the surplus generated by
the insurance operations to the policyholders, an
aspect, among others, characterizing this type of in-
surance as compared to the conventional insurance
industry. However, technically speaking the two are
similar. In fact, in addition to the insurances of the
public sector, Shiekan captures the biggest stake of
the Sudanese private insurance business thanks to
the private sector’s trust in a big portfolio, well bal-
anced and backed by first class reinsurance treaties.
In terms of annual premiums written in the Sudanese
market (general & life), Shiekan has come to occupy
a leading position with about 70 % market share.
The company operates countrywide with well estab-
lished and staffed branches and agencies in most of
the 26 federal States of the Sudan, thus rendering to
the clients door-to-door insurance services.
Shiekan provides covers of all traditional classes of
general insurance and specialized risks, like Prop-
erty and engineering, Marine and Aviation, Miscella-
neous Accidents, Agriculture, Motor, Medical Group
or Export Credit for example.
The company has acquired a high professionalism
in tailoring insurance packages to suit any project’s
specific requirements.
Shiekan’s business is protected by an outstanding
reinsurance program in the international market
with first class reinsurers such as Partner Re (Paris)
Swiss Re, Hanover Re & other first class compa-
nies. Their leading Lloyd`s reinsurance brokers are:
Willis, Tyser, HSBC, UIB, besides J.B. Boda of India
etc.. Shiekan has gone one step further with putting
in place a Loss Prevention Department, the first ser-
vice of its kind in both local and regional insurance
markets. In essence, this service is that Shiekan
turns into a partner of its clients in their concern to
safeguard their properties.
SAUDI SUDANESE BANK
A.E Elaim Elamin M.Ali
General Manager
El Mak Nimer St., PO Box 1773, Khartoum
Tel: + 249 183 485661 / 485674 / 485675 / 485676
Fax: + 249 183 483102
ssb@saudisb.sd / international@saudisb.sd
www.saudisb.sd
Activity: banking
Date of Creation: 1984
Ownership: mixed
The Saudi Sudanese Bank, a symbol of Arabian
traditions and gateway to business in Sudan. Es-
tablished in 1984, as a gesture to demonstrate and
strengthen the strong ties between the Saudi and
Sudanese nations. It also encourages commerce
between the Afro and Arab peoples. The bank has
become a powerhouse of financial capability, pro-
fessional efficiency and adoption of the most recent
technology.
The bank performs all banking operations (financial,
investment, commercial and so on) and strives to
introduce new competitive and vital services and
products. Its banking activities encompass Local and
foreign currency deposits, Cheque collection and
clearance, Inward and outward transfers, Issuing
Letters of credit and letters of Guarantees, Issuing
Shamikh smart payment card, Personal safes. The
Saudi Sudanese Bank applies Islamic Investment
models – Murabaha, Mudaraba, Musharaka, Salum,
and sets up and management of various Financial
portfolios. The Saudi Sudanese Bank has about 13
branches throughout Sudan, mainly concentrated in
Khartoum.
Buying and selling commodities (for direct invest-
ment purposes), Buying and selling foreign currency,
Buying and selling stock market shares and bonds,
Stocks and shares consultations, Management of
third party properties, conduct and evaluate feasibil-