Central Bank of Sudan vs. Western Union: who will win?

September 15, 2008 - 10:34am | News | Other themes |
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Western UnionAccording to Sudanese press The Central Bank of the country has issued policy memoranda for the banks where it instructs the banks to void the rule of Western Union transfer service whey make the transfers. However the sources add that the rules concern the transfers made by and to the civil servants. 

The Central Bank of Sudan being against such restrictions has issued another rule that it quite opposite to the Western Union’s one. More over the bank said that it will suspend any financial institution that will follow the principle of WU. 

According to the rules Western Union bans the transfers and payouts “to any persons, agents, private enterprises, charitable organizations or other establishments linked directly or indirectly in any connection whatsoever to any governmental authorities of Sudan (which term for this purpose includes any governmental agency or entity and the Central Bank of Sudan), or for or on behalf of the Government of Sudan”.

The Central Bank of Sudan being against such restrictions has issued another rule that it quite opposite to the Western Union’s one. More over the bank said that it will suspend any financial institution that will follow the principle of WU. 

No response from WU has been received yet.





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