Bank of Sudan organizes training session on liquidity management in Islamic banks

06:31 PM October, 23 2016

Sudanese Online
Sudan News Agency-Khartoum-Sudan
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Khartoum, Oct. 23 (SUNA) - The Central Bank of Sudan (CBOS) organized, in collaboration with the Jeddah-based Islamic Development Bank and the Abu Dhabi Arab Monetary Fund Sunday at Al-Salam Rotana Hotel, a training session on (Liquidity Management in Islamic Banks) under the patronage of the CBOS Governor Abdul-Rahman Hassan Abdul-Rahman.
The CBOS Governor pointed out that the training session came within the framework of the continuous cooperation with the Islamic Development Bank and Arab Monetary Fund in all programs and activities, praising the participation of 12 central banks from the Arab states as well as the experts participating in the activities of the session, referring to the development of Islamic banking during the past years at the global and Arab region level, which contributed to the growth achieved.
Abdul-Rahman pointed to the contribution of Arab central banks and the Arab Monetary funds in leading the international efforts relevant to the development of frameworks and programs pertinent to the Islamic banking sector as well as their role in the establishment of an organization on accounting and auditing of Islamic Financial Institutions, Islamic Financial Services Board and the International Islamic Corporation for Liquidity Management as international institutions on Islamic banking audit as they work on the development of standards and regulations to enhance the efficiency and soundness of the banking business in accordance with the Islamic Sharia Law.
He pointed to the domestic and international efforts in liquidity management in light of the challenges of developing and providing tools and mechanisms for liquidity management at the Islamic banks, which represent one of the most important challenges facing the Islamic banking industry, which throws the burden on the monetary policy makers at the Islamic banks, adding that the importance of the session came from being made in the light of the global financial crisis, oil prices reduction and the lack of liquidity in the banks and financial institutions.
He said that Sudan's experience in Islamic banking was deeply-rooted, calling on the participants to get acquainted with the Sudan experience not only in the liquidity management; but in the management of foreign exchange resources under an unjust blockade, referring to the successes of the Sudan in providing a clearing system in foreign currencies eased the cross circulation.
Abdul-Rahman pointed out to another important and successful experience in Sudan, which is the Liquidity Management Fund, which is an interbank lending system, revealing that the fund enable the banks to manage the liquidity among themselves and reduce the role of the central bank as a lender of last resort, pointing out that the excess liquidity banks lend money to banks that need liquidity at certain times.
BH/BH


أبرز عناوين سودانيز اون لاين صباح اليوم الموافق 23 أكتوبر 2016

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