Egypt bans money transfer from Sudan

Egypt bans money transfer from Sudan

04-10-2014, 08:54 PM


Post: #1
Title: Egypt bans money transfer from Sudan
Author: SudaneseOnline News
Date: 04-10-2014, 08:54 PM

Khartoum-Egyptian banks have rejected to receive transfers from agents of Egyptians companies and to receive value of the bills issued by Sudanese and Libyan companies for commodities exported to these markets from Egypt.

This move has created a tension between businessmen, investors and exporters and the government.

The decision was based on a verbal instructions from the central bank to ban banking transfers with a number of Arab and African countries (Libya, Qatar, Syria and Sudan) under claims that these countries are not committed to enforcement of anti -money laundry laws, and that there are suspicions over transfer of funds by these countries to human rights and non-government organizations which might be misused.