Khartoum, 7 March (SUNA)-The Union of the Sudanese Banks said the easting of US economic sanctions imposed on the Sudan has reflected positively on the trade and financial transactions, referring to the past stands of the financial institutions which avoided dealing with the Sudan to avoid the threat of punitive measures.
Musaid Mohamed Ahmed, the President of the Union, said the sanctions had negative impact on the country, on economic, trade activities as well as on the financial transactions and banking services which pertain to the daily needs of the people.
The president of the Union who was addressing a forum organized at Rotana Hotel said the move has been well received regionally and globally particularly from investor and financial institutions which he said have been pouring into the Sudan since the American decision to ease the sanction.
He said they were vying to seize the opportunities of investment in the Sudan.
The forum is held under the theme "the importance of lifting the sanctions" which is organized by the Union of the Arab Bank in cooperation with the Union of the Sudanese Banks and under the supervision of the Central Bank of Sudan.
Musaad said the forum is aimed to encourage Arab bank to resume dealing with the Sudanese counterpart as the sanctions had been inhibiting financial transactions between the two sides.
He pointed to the role played by the Arab Banks Union in makdein contacts with the concerned bodies inside the United States of America to help lift the sanctions imposed on the Sudan, and the banking embargo in particular.