Regulatory Alerts2022-04-26 | CBE1.5Added · Updated
CBE Regulation Book 1.5 - Amendments To The Basic Systems Of Banks And Management Contracts
Article 92 mandates that banks must notify the Central Bank of any proposed amendments to their basic systems or management contracts before presenting them to the general assembly, ensuring compliance with licensing conditions. The notification must follow a specific model approved by the Central Bank, which may reject the amendment or require modifications before approval. Proposed amendments to basic systems must be submitted at least sixty days prior to the general assembly meeting, while amendments to management contracts must be submitted at least sixty days before the contract's effective date. The Central Bank of Sudan's Supervision Department issued this regulation on June 24, 2004.
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