Current Date:

Friday, 14 December 2018

The Banking Cheque; Solution or Problem

Yesterday, and at the premises of  Al Ray Alam Arabic daily, a symposium titled,' the banking cheque; solution or problem, was held there.
The symposium was attended by a large audience and addressed by many economists and lawyers, conspicuous among them are; the president of Sudan bar association, Osman Al Shareef, who said that payment through the the banking cheque had been currently under study, adding that for this purpose they formed a committe of lawyers  to debate over the matter.
The manager of the real estate bank, Osman Abdul Al 'Azeen, said that  the banking cheque is a true solution for the financial transactions to flow smoothly through the banking system, going further to cite the buying and selling of cars and real estates through cheques as the good example here. 'This is an effective mechanism for attraction of money to the banks'.
Dr. Taha Hussein, Financial and Academic councilor, praised the introduction of the banking cheque, pointing out that in Europe  carrying money in cash is a crime that is punished by law. 
He went to regret that the money that were circulating outside the banking system were so huge. 'Up to september of the current year, 2018, the money that are in the hands of the public do exceed 91 billion Sudanese pounds- a figure that is eqivalent to 97 % liquidity in the country'.
He conclued by saying that many mechanisms  could contribute positively to attract money to the banks, calling on the government to make all sales electronically. 'Electricity, petrolium stations, etc, can be provided with point sales to achieve this aim'.
Lawyer, Dr. Rasheed Al Awad, said that the beneficaries of application of the banking cheque were the majority of the Sudanese  people who reached more than 90%.
Economical expert, Omar Al Umarabi, said that the decision to introduce the banking cheque  was something good which is to help a lot in making the aspired for changes, goiging to criticise the Sudanes as cash base community, since only 1% were noticed as  dealing electronically in this field. 
Dr. Abdul Mun'im  Mohamed Al Tayib, Director of the academy of financial and economic sturdies said that the banks were only limited to towns and cities to the exclusion of the rural area- something that is to doom the cheque pattern to failure.