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The adoption by a country of a particular economic system, may call for its Central Bank to carry out certain functions which differ substantially from those of  central banks in other  economic systems.

Each Central Bank, has its own Act specifying these   functions which  can be amended as deemed necessary.

In December, 2002, the Bank of Sudan Act, 2002 was issued wherein Section (6) specified the objects of the Bank as follows:

  1. Issue currency of the types thereof, organize, control and supervise the same;
  2. Issue monetary and financing policies, and manage the same, in consultation with the Minister (Minister of Finance and National Economy) in such way, as may achieve the national objectives of the national economy;
  3. Organize banking business, monitor and supervise, strive to promote and develop and raise the efficiency thereof, in such way, as may achieve the balanced economic and social development;
  4. Strive...

In the past, some of the functions of the Central Bank of Sudan were divided between the Ministry of Finance, Sudan Currency Board and the National Bank of Egypt .The Ministry of Finance maintained part of the official foreign exchange balances through two accounts, one in USD and the other in Sterling Pounds which were managed respectively by the National Bank of Egypt and Barclays Bank D.C.O. As to the currency Board it used to perform the task of issuing and managing the currency and to keep a part of the country's balance in foreign currency as a cover to the national currency.

Also the branch of the National Bank of Egypt used to manage the banking activities of the government besides discharging its main role as the bank of commercial banks (bank of the banks) at the same time. During this period, the Egyptian and British currencies were prevailing until the first national currency was issued.

After the independence of Sudan, the need for having a Central Bank to replace the existing bodies and to perform its functions of regulating...