Sudan Central Bank Tightens Oversight of Fintech Partnerships

KHARTOUM, July 3, 2026 - The Central Bank of Sudan has introduced stricter regulations requiring all banks and licensed financial technology (fintech) companies to obtain prior approval before entering into partnerships, technical integrations, operational agreements, or data-sharing arrangements. The new directive comes as Sudan's financial sector continues its transition toward digital banking and electronic payment systems, amid growing scrutiny over the governance, security, and transparency of fintech operations. Under the new rules, all licensed banks, payment service providers, and financial switch operators must receive written authorization from the central bank before implementing any contractual or technical collaboration involving financial services or customer data. The central bank said the measure is intended to strengthen oversight of the country's payment ecosystem and ensure that all licensed entities comply with strict standards on corporate governance, financial stability, risk management, cybersecurity, business continuity, and data protection. Authorities emphasized that safeguarding customer information and preserving financial confidentiality remain key regulatory priorities. Financial institutions and technology providers are expected to apply robust encryption, access controls, and data governance measures to ensure that customer information is processed only within legally authorized limits. The regulator said the licensing of multiple technology providers is part of a broader strategy to promote innovation, increase competition, improve operational efficiency, and strengthen the resilience of Sudan's digital financial infrastructure. However, it stressed that licensing alone does not authorize a company to provide services directly to banks without additional regulatory approval. The Central Bank reaffirmed that it remains the sole authority responsible for regulating and supervising the national payment system, while licensed companies operate within a framework established by the regulator. Officials said the ongoing modernization of Sudan's payment infrastructure is designed to expand access to digital financial services, promote financial inclusion, and enhance the stability of the country's banking sector in line with international standards. In recent months, the central bank has licensed several national companies to operate as financial switch providers. The initiative aims to strengthen electronic payment services, support banks without their own switching infrastructure, facilitate retail banking services, improve connectivity between automated teller machines (ATMs) and payment terminals, and integrate telecommunications companies, utility providers, and government revenue collection agencies into the national payment system. The modernization effort is also expected to enhance interoperability between banks and fintech firms, paving the way for broader adoption of innovative digital financial services across Sudan.