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SUDAN

Islamic finance set to lose its monopoly

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“Sudan, a new playground for business”
SUDAN

Sudan, a new playground for business

The coup led by General Abdel Fattah al-Burhan on 25 October 2021 has stopped Sudan's transition model dead in its tracks. With a military junta in power, international institutions and Western governments have stopped sending aid to Khartoum as they wait for guarantees from the new administration. Yet important economic reforms launched at the end of 2020 have turned Sudan into a new market which banks and multinationals are hoping to conquer. Meanwhile, Moscow, Beijing, Ankara and the Gulf states have been watching these developments from afar, only mildly condemning the regime change which may well work in their favour as they also try to seize opportunities in this new El Dorado. [...]
As part of its economic reform programme, Sudan is putting in place a two-track system where Islamic and conventional finance will operate side by side. [...] (579 words)
Issue dated 17/05/2021 Reading time 3 minutes
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Further reading
CENTRAL AFRICAN REPUBLIC FRANCE Diplomacy 05/05/2021

Russia's presence further widens wedge in Paris-Bangui axis 

Cuts to French aid, a freeze on military cooperation... relations between Paris and Bangui continue to cool. France suspects several of Touadéra's close advisors of waging anti-French campaigns while Russia is not far from the picture. [...]
Central African President Faustin-Archange Touadéra and his Russian counterpart Vladimir Putin at the 2019 Russia-Africa summit in Sochi.
Central African President Faustin-Archange Touadéra and his Russian counterpart Vladimir Putin at the 2019 Russia-Africa summit in Sochi. © Mikhail Metzel/Sputnik/Kremlin Pool/EPA/Newscom/MaxPPP

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