Sudan's central bank has mandated the Bank of Khartoum to reverse disputed fee deductions within 48 hours, following widespread customer complaints about unauthorized charges during a period of severe economic challenges. The directive issued yesterday requires immediate refunds for fees improperly applied to savings accounts since January 29, 2026.
Central bank officials clarified that savings and investment accounts must be treated separately under existing regulations, emphasizing that insurance premiums for basic savings products should be covered by the bank itself. This intervention comes as citizens grapple with currency depreciation and rising inflation, making even small account deductions particularly contentious.
"The distinction between savings and investment accounts is legally binding," stated the regulator's announcement. "Financial institutions must ensure complete transparency in all customer agreements and fee structures." The Bank of Khartoum, Sudan's largest lender, now faces mandatory contract reviews to eliminate ambiguous clauses and improve disclosure practices.
The dispute centers on implementation of the 1996 Deposit Insurance Fund law, which requires banks to contribute 0.2% of average deposits annually. While investment account holders share this burden, savings account costs fall entirely on banks – a distinction the central bank says was violated in this case.
This regulatory action highlights growing concerns about financial sector stability as Sudan works to restore public confidence in its banking system. Analysts suggest it may signal tighter oversight of financial institutions amid ongoing economic reforms.
