Almohagig Reveals the Behind-the-Scenes of the Meeting of the Minister of Finance with Exporters in Cairo
almohagig- Nazik Shamam
Informed sources revealed a meeting between the Minister of Finance and National Economy, Jibril Ibrahim, and businessmen working in exports in the Egyptian capital, Cairo.
The sources told Almohagig that the meeting discussed the companies banned by the Central Bank from exporting due to their failure to return the export proceeds.
The exporters informed the Minister of Finance about errors in issuing the bank’s decision, as there were companies that did not have proceeds, and they revealed the existence of proceeds whose repayment period was during the early days of the war when the Central Bank of Sudan stopped operating.
The exporters requested five months to rectify the situation and repay their proceeds, given the losses from looting, burning, and theft. In turn, the Minister of Finance addressed a formal letter to the Governor of the Central Bank upon his return from Cairo, requesting clarification on what happened and starting to find solutions to this decision.
It is worth mentioning that the Central Bank
used to issue a warning for 3 months, after which the ban on exports would be imposed, followed by a comprehensive banking ban. However, in the absence of a system and communication with commercial banks, the bank banned all companies without warning, and the exporters considered this action a significant damage to the reputation of the companies.
Last week, the Central Bank of Sudan banned more than 200 companies operating in exports, citing their failure to repay the export proceeds during previous periods.
