banking

German Deutsche Bank to resume banking transactions with Sudan -

May 30, 2021

(SUNA) - The German Deutsche Bank decided last week to resume normal banking dealings with Sudan after more than 15 years of interruption.

The Sudan’s embassy in Berlin received a notification of the decision from the German Deutsche Bank headquarter in Frankfort to resume banking dealings with Sudan, and that the bank is currently conducting consultations with its regional branches in Dubai and Cairo on the necessary technical aspects for the decision implementation.

The German Deutsche Bank is the largest banking institution in Germany, was founded in Berlin in 1870 as a specialist bank for financing foreign trade and promoting German exports, and is ranked as No. 21 in the world according to the year 2017-2018 classification, with a network that spans 58 countries with a large presence in Europe, the Americas, and Asia.

The bank’s decision to stop its banking dealings with Sudan due to the US economic sanctions on Sudan was a severe obstacle to most of Sudan’s banking dealings with many of the world countries, especially the European countries, because of the bank’s control over a large part of global banking transactions flows with a network of branches covering 58 countries around the world.

The German Deutsche Bank decision came as a result of the glorious December revolution and the lifting of the name of Sudan from the American list of countries sponsoring terrorism, as well as the result of the estimated efforts of the Sudan’s embassy in Berlin and other parties, meanwhile, the decision will promote the economic development, trade exchanges and improving the investment environment in the country.

suna



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