Sudan’s central bank orders Bank of Khartoum to refund customer fees
February 4, 2026 (KHARTOUM) – The Central Bank of Sudan has directed the Bank of Khartoum to refund amounts deducted from customer accounts as fees for the Deposit Insurance Fund and ordered that the situation be rectified within 48 hours.
The Deposit Insurance Fund is a regulatory mechanism that protects depositors’ funds in the event of a bank’s failure or bankruptcy.
On Jan. 29, the Bank of Khartoum began deducting varying amounts from customer accounts based on deposited balances. The move faced widespread backlash from customers who accused the bank of looting their funds.
In a circular seen by Sudan Tribune on Wednesday, the central bank ordered the Bank of Khartoum to immediately recover the deducted amounts. It stipulated that the bank must bear the insurance premiums for “Saving” and “Saving Plus” accounts, rather than treating them as investment accounts.
The central bank instructed the institution to maintain transparency regarding the benefits and entitlements of each account category. It also demanded full disclosure of distributed profits for both savings and investment accounts, as well as the premiums deducted from the latter.
The regulator emphasized that all terms and conditions must be fully explained to customers before accounts are opened to ensure they understand their rights and obligations without ambiguity.
It further stressed that customers must have the option to accept or reject the terms without being forced into obligations. A comprehensive review of Bank of Khartoum’s contracts and account-opening forms was also ordered to ensure they are free from conflicting or unfair clauses.
The central bank noted that Bank of Khartoum had added profits to savings accounts but then deducted amounts exceeding those payments. While the bank informed the central regulator that the deductions were made from investment accounts, the central bank clarified that savings and investment accounts are distinct categories. Under banking regulations, banks are required to cover Takaful insurance premiums for savings accounts.
Article 24, paragraph 1 of the 1996 Deposit Insurance Fund Act on annual contributions requires banks to deposit 0.2% of the annual average of their total current and savings deposits into the fund.
The law also requires banks to deposit 0.2% of the annual average of total investment accounts, while investment account holders themselves are responsible for a 0.2% contribution from their total investment deposits.
The government and the central bank are committed to paying 10% of the total contributions specified for current, savings, and investment accounts, with collections calculated after deducting the required cash reserve held at the central bank.