Policies Administration Circular No. 1/2025: Procedures and Controls for Exports of Goods

In the name of Allah, the Most Gracious, the Most Merciful Central Bank of Sudan Central Bank of Sudan

General Administration for Policies, Research and Statistics

Date: 21 Rajab 1446 AH
Corresponding to: 21 January 2025 AD
Central Bank of Sudan - Khartoum
General Administration for Policies, Research and Statistics Policies Administration Circular No. (1/2025) Addressed to all banks and relevant entities

Subject: Procedures and Controls for Exports of Goods

Pursuant to the powers of the Governor of the Central Bank of Sudan under the Regulation of Dealing in Cash Law of 1981, and Article (20) of the Regulation of Dealing in Cash Regulations of 2013, and within the framework of affirming the continuation of the policy of unifying and liberalizing the exchange rate, and for the purpose of encouraging Sudanese exports and enhancing their competitiveness in regional and global markets and maximizing their returns, and to tighten the controls of export operations, the following has been decided:

First/ Cancellation of the following circulars:

1. Policies Administration Circular No. 17/2022 issued on 09/March/2022 concerning the procedures and controls for exports of goods, provided that all circulars that were cancelled by this circular shall remain cancelled.

2. Policies Administration Circular No. 01/2024 issued on 06/March/2024 concerning the methods of payment for the export of live livestock.

3. Policies Administration Circular No. 03/2024 issued on 26/May/2024 concerning the controls for organizing export by the advance payment method.

Second/ The following procedures and controls shall apply to export operations:

1. Export procedures:

Export contracts shall be approved by the Ministry of Trade and Supply.

The customer must have obtained an exporters' register from the Ministry of Trade and Supply, and the register must be valid, and a copy of the register shall be kept in the customer's file, provided that the exported commodity is among the group of commodities permitted in the register.

Banks shall comply with the following:

I. Not to execute export procedures for individuals (natural persons), with the exception of border trade.

II. Not to execute export procedures for foreigners, whether individuals or companies, with the exception of companies that have an investment license.

III. Not to complete export procedures for commodities prohibited from export in accordance with the list issued by the Ministry of Trade and Supply.

[*] Our vision: To be among the leading central banks at the regional and international levels in maintaining monetary and financial stability, contributing to achieving sustainable economic growth and enhancing global confidence in our banking credibility.

IV. Satisfying all Know Your Customer (KYC) requirements and Customer Due Diligence (CDD) procedures, studying the elements of creditworthiness and reliability of the exporter, in addition to the Uniform Customs and Practice for Documentary Credits and the Uniform Rules for Documentary Collections.

V. Ensuring that none of the shareholders or founders of the company or the relevant entity operating in the field of export is banned by the Central Bank of Sudan, by referring to the articles of association or as shown in the annual report (Form 7) or by virtue of a recent extract issued by the Commercial Registrar showing the shareholders. In the event that the name of one of the founders or shareholders appears among those banned from banking, the export operation for the company or the relevant entity must not be executed.

VI. Approving the export form after completing all the data contained therein and verifying its accuracy by signing it with two authorized signatures (a) and (b) through the electronic Export and Import System IMEX.

VII. Circulating export forms among the relevant entities (banks, Ministry of Trade and Supply, Customs Authority, and Central Bank of Sudan) through the electronic Export and Import System IMEX only.

VIII. Keeping regular records in which the data of contracts and the forms approved through them and what has been shipped are recorded based on the original export forms.

IX. Keeping sufficient information to reach the exporter, including the name, a copy of the commercial register, the credit code, the national numbers of the shareholders, and any other information.

X. Obtaining a written undertaking from the exporter by which he undertakes to notify the bank immediately of any amendment to his address.

XI. Permitting the splitting of shipments for the export contract, provided that an electronic export form is issued for each shipment separately, and following up the collection of the proceeds for the shipped part according to the period specified for the payment method by the Central Bank of Sudan.

XII. The Customs Authority shall endorse the shipped quantities in the customs section of the electronic export form immediately upon completion of the shipping process.

2. Follow-up of export proceeds:

a. Banks shall comply with the following:

I. Obligating the exporter to designate the shipping agent and to notify the bank in case of changing the agent.

II. Following up their exporter customers to ensure the collection of proceeds on time for any of the payment methods and according to the applicable controls.

III. Following up shipping and shipping agents to ensure the delivery of bills of lading immediately upon completion of the shipping process and following up the exporter to complete the rest of the documents (certificate of origin, commercial invoice...etc.). In the event that the bills of lading are not delivered within a period of two weeks from the date of shipment, the bank must immediately notify the Central Bank of Sudan - Foreign Exchange Administration of the defaulting party.

IV. Reviewing the documents in order to ensure their conformity with the terms of the letter of credit and their freedom from discrepancies in order to avoid any delay in receiving the proceeds. Accordingly, any discrepancy in the documents shall be the full responsibility of the bank, while discrepancy in the specifications of the goods shall be the responsibility of the exporter.

V. Endorsing the received part of the proceeds immediately upon receipt in the space designated for it in the electronic export form according to the payment method, after completion of the shipping process and endorsement of the shipped quantity by the Customs Authority.

VI. Following up the exporter to ensure the completion of the shipment on the electronic form.

Our vision: To be among the leading central banks at the regional and international levels in maintaining monetary and financial stability, contributing to achieving sustainable economic growth and enhancing global confidence in our banking credibility.

b. The shipping agent shall notify the bank that issued the export form of any changes in his data in the bills of lading, especially those related to the information of the shipper and the consignee, before issuing the new bill of lading. Failure to notify the bank shall expose the shipping agent to legal accountability.

3. Procedures specific to certain commodities:

a. Export forms for personal devices, equipment and machinery for the purpose of repair, replacement, re-export, use abroad and final return shall be issued by the Central Bank of Sudan - Foreign Exchange Administration for the following entities:

I. Public sector companies and government units after submitting a letter from the relevant ministry or government unit accompanied by an undertaking from them to return the exported equipment and machinery within a period of six months.

II. Foreign companies and entities invested in Sudan after satisfying the requirements of the Ministry of Trade and Supply.

b. The electronic export form shall be issued by banks for the purposes of the following entities:

I. Private sector companies after satisfying the following:

A letter from the requesting entity.
Approval of the Ministry of Trade and Supply.
A guarantee cheque from the account of the company or the requesting entity for the value of the equipment to be exported based on the purchase invoice or a copy of the import certificate or presentation of a certificate of value from the customs authorities.

II. Companies operating in the field of petroleum for the purpose of repair and re-export or final re-export after submitting a letter from the Ministry of Energy approving the export.

III. Final export of imports in which damage has been discovered after the approval of the Ministry of Trade and Supply, in accordance with the following:

Used imports shall be valued according to the import invoice with deduction of depreciation.
Unused imports are assessed according to the invoice issued from the country of import.

IV. Re-export of goods for the purpose of maintenance and re-import after fulfilling the following:

An export license for the purpose of export and re-import.
An undertaking to re-import the goods immediately upon completion of maintenance.
A guarantee cheque for the value of the goods, its value to be determined by the Ministry of Trade and Supply.

V. Re-export of used or new goods or equipment that the exporter wishes to re-export for the purpose of marketing in another country, in accordance with the following:

Approval of the Ministry of Trade and Supply.
Attaching an export cost that includes all elements of local cost from the port of export plus the profit margin, to be converted into free currency and added to the invoice value to arrive at the value of the proceeds that must be supplied.

VI. Gifts and samples with or without value in accordance with the following:

That requests for non-commercial export of gifts and samples with or without value be approved by the Ministry of Trade and Supply, in accordance with the following:

Signature

[رؤيتنا] To be among the leading central banks at the regional and international levels in maintaining monetary and financial stability, contributing to achieving sustainable economic growth and enhancing global confidence in our banking credibility.

Gifts and samples without value in accordance with the following:
Approval of the Ministry of Trade and Supply.
Export of gifts and samples is permitted without transfer of value for individuals and companies, provided that the total value does not exceed the amount of 500 US dollars.
- Samples with value in accordance with the following:
Approval of the Ministry of Trade and Supply.
That the total value does not exceed the amount of 2,000 US dollars for individuals and the amount of 5,000 US dollars for companies and business names, and its value may be received in cash or by transfer from abroad.

c. Banks are permitted to issue export forms (EX) without transfer of value for the following purposes:

I. Personal luggage of Sudanese and foreigners working in the country, foreign organizations and diplomatic missions, in accordance with the requirements received from the Ministry of Trade and Supply.

II. Goods and items for participation in external exhibitions pursuant to a letter from the Ministry of Trade and Supply.

III. Trucks, vehicles and equipment for refugees for the purpose of voluntary return after presenting the following documents:

A letter from the General Commission for Refugees approving the export.
Certificate of ownership for trucks and vehicles from the General Directorate of Traffic.
A duly authenticated power of attorney for other than the owner.
A valid certificate of matching of names with the inventory and identity from the General Commission for Refugees.

4. Methods of payment:

All methods of payment are permitted upon export, including the following:

Documentary credits (at sight).

Documentary credits (deferred).

Payment against documents CAD.

Documents against acceptance D/A.

Advance payment subject to the following:

That the proceeds be transferred from abroad.
That the transfer be by order of the importer abroad and the name stated in the export contract approved by the Ministry of Trade and Supply.
That the final invoice be in the name of the importer and matching the data contained in the export contract.
That the maximum period for executing export operations be three months from the date of adding the proceeds to the accounts of the bank concerned.

[?]
[?]

[رؤيتنا :] To be among the leading central banks at the regional and international levels in maintaining monetary and financial stability, contributing to achieving sustainable economic growth and enhancing global confidence in our banking credibility.

5. Period for recovery of export proceeds:

Everyone who exports goods abroad must recover their value in foreign currency, in accordance with the following:

Upon acceptance of the documents and within a maximum of (30) days from the date of shipment in the case of exports executed by the documentary credit at sight method.

Within a maximum of (60) days from the date of shipment in the case of exports executed by the payment against documents method.

Within a maximum of (90) days from the date of shipment for goods permitted to be exported with payment facilities by deferred documentary credit and documents against acceptance D/A.

Within a maximum of three months from the date of shipment for goods permitted to be exported by sale under disposal, which the Ministry of Trade and Supply announces for the purpose of opening new markets and encouraging their exports as marginal goods.

6. Retention of export proceeds:

That the export proceeds of goods other than gold be retained in an office account in foreign currency in the name of the exporter, opened for this purpose with the authorized banks (export account) and fed with the retained proceeds immediately upon receipt, provided that the export proceeds of the exporter remain in the export accounts for a maximum period of 21 working days, and it shall be the responsibility of the bank to notify the exporter of the arrival of the proceeds immediately upon receipt.

With regard to proceeds that exceed the specified period for remaining in the export account, they shall be purchased for the account of the Central Bank of Sudan at the bank's purchase price announced on the date of addition to the export account. Provided that they be added to the accounts of the Central Bank of Sudan specified by it with its correspondents abroad in accordance with its directives.

With regard to export proceeds that arrive after the specified period for the arrival of proceeds set out in item (Second-5) above, the proceeds shall be purchased for the account of the Central Bank of Sudan at its announced purchase price on the date of maturity, provided that they be added to the accounts of the Central Bank of Sudan specified by it with its correspondents abroad in accordance with its directives.

7. Uses of export proceeds:

Export proceeds shall be used for the following:

Import for the owner of the proceeds in accordance with the regulations.

Sale of the proceeds to the exporter's bank or any other bank.

Third/ General regulations:

1. The advance payment method or documentary credits at sight only are permitted when exporting to neighbouring countries via land crossings; and when exporting live livestock (camels, cows, sheep, goats, ... etc.) via all land, sea and air crossings.

2. Confirmation of receipt of export proceeds by transfer from outside Sudan, and banks are permitted to receive transfers of export proceeds from other countries only; in the event of difficulty in transferring export proceeds directly from the countries to which the export was made.

3. In the event that the exporter is unable to execute the export operations during the period mentioned in paragraph (Second-4)(7) above, the bank may take any of the following measures:

Our vision: To be one of the leading central banks at the regional and international levels in maintaining monetary and financial stability, contributing to achieving sustainable economic growth and enhancing global confidence in our banking credibility.

I. Considering the extension of the period after the client submits a request explaining the reasons for non-execution, provided that the extension request is for one time only and after the approval of the Central Bank of Sudan – General Administration of Financial Markets.

II. Allowing the exporter to consider the amount paid in advance against other exports, provided that the transaction is executed by the same exporter and for the same importer, and in this case it is not required that it be the same commodity.

4. No deduction from the export account is permitted except for the uses mentioned in item (secondly - 7) above.

5. In the event that the export proceeds are received by a bank other than the bank that issued the form, the receiving bank must transfer them to the bank that issued the form, or notify it of the date of receipt of the proceeds and provide it with a copy of the transfer document (SWIFT) to complete the transaction file, in the event that the client wishes to sell the proceeds to another bank.

6. In the event that the bank fails to clear the received portion of the proceeds immediately upon receipt in the designated place in the electronic export form, it will be subject to the administrative and financial penalties regulations issued by the Central Bank of Sudan.

7. The bank that issued the export form EX shall be responsible for fulfilling the local controls and provisions and those contained in international rules and customs, and for following up the full recovery of the export proceeds within the specified time.

8. Banks must not execute any export procedure except for the owner of the record only, after fulfilling the two conditions of credit coding and creditworthiness.

9. Do not execute any export operations by the documentary collection against acceptance D/A method and the cash against documents CAD method except after a thorough study of the client and the export transaction, taking into account the elements of creditworthiness and customer due diligence procedures CDD.

10. In the event that the exporter fails to recover the export proceeds within the permitted period according to each payment method, he will be banned from export procedures, and if he does not rectify his situation within a period of one month, he will be banned with a comprehensive banking ban.

11. Emphasizing the responsibility of exporters in recovering proceeds, with the activation of legal procedures against those who are negligent among them.

12. It is prohibited to sell export proceeds to exchange companies.

13. It is prohibited to print and use the paper version of the export form EX.

14. The provisions of this circular apply to all exports through all crossings and ports.

15. With regard to the gold commodity, it is dealt with in accordance with the special controls for that.

16. Failure to comply with the provisions of this circular exposes the bank to accountability in accordance with what is stated in the administrative and financial penalties regulations.

This circular shall enter into force as of its date, and it must be circulated to all your branches operating in Sudan.

c/o Central Bank of Sudan
Insarat Taj Al-Sir Ahmed
Thuraya Abdullah
Policies Department
General Administration of Policies and Research

[*] Our vision: To be one of the leading central banks at the regional and international levels in maintaining monetary and financial stability, contributing to achieving sustainable economic growth and enhancing global confidence in our banking credibility.