Sudanese Gold on the Doorstep of the Saudi Market

The former head of the Sudanese Goldsmiths, Traders, and Exporters Department and Gold Expert Atif Ahmed has expected the Saudi market to officially open to Sudanese gold exports within the next few days.

Atif revealed to (Sudan Pulse) that the decisions taken regarding the United Arab Emirates (UAEl have resulted in the current halt in exports, explaining that gold trade with the UAE represents 95% of the volume of exports. He said, “Currently, exports are almost at a standstill, and exporters are seeking to open new markets.” He noted that this step falls within the mandate of the Governor of the Central Bank of Sudan (CBoS) to openi financial correspondents.

He added that Sudan recently succeeded in opening the market of the Sultanate of Oman and has begun dealing with it, in addition to opening deals with the State of Qatar.

Atif urged official bodies to accelerate the process, as exports require rapid financial activity, expressing his hope that the country will overcome this difficult phase and the current circumstances.

Atif noted the existence of other markets, such as India and various other countries, stressing the urgent need to facilitate financial correspondents and accelerate the financial cycle so that exporters can benefit from these opportunities.