São Paulo – Omdurman National Bank, from Sudan, aims to establish partnerships with Brazilian banks and to have correspondents in the country, supplying guarantees for business made between Brazilian and Sudanese companies, like the company already does in the Arab country. The general manager at the bank, Abd Alrahman Hassan Abd Alrahman, met with banking institutions in São Paulo last week and, on Friday (1), visited the Arab Brazilian Chamber of Commerce.
In the company of the ambassador of Sudan to Brazil, Abd Elghani Awad Elkarim, Alrahman met with representatives of the Brazilian Banking Association (ABBC), the Brazilian Federation of Bank Associations (Febraban), Bradesco, ABC Brazil, BTG Pactual and the Brazilian Machinery Manufacturers Association (Abimaq). He should also visit the Bank of Brazil and the Central Bank, in Brasília, and companies in Rio de Janeiro prior to returning to Khartoum, this week.
Omdurman Bank wants Brazilian banks to accept letters of credit issued by the institution as a guarantee for purchase and sale of products and also for the banks to act as local correspondents. He said that the meetings he had with ABBC and Febraban were “productive”.
“Brazil has many banks that simplify transactions and guarantee some negotiations. We want to have correspondents here,” said Alrahman. He stated that, in Sudan, Omdurman Bank issues letters of credit to guarantee business celebrated there.
Alrahman also stated that the company has already found partners in other countries, like Malaysia and China. “We have so much in common with Brazil and the relations between both countries have grown significantly in recent years. We may therefore create the environment there for industry and trade to develop. Here too,” he said.
According to Arab Brazilian Chamber CEO Michel Alaby, Alrahman presented to Brazilian institutions how they can do business in Sudan. “He and Febraban agreed that the president of Omdurman Bank should come to Brazil to present his objectives and guarantees,” said Alaby. The meeting with the president of the institution is scheduled for February.
Sudan is suffering with economic embargoes, which makes financing difficult. There are, however, Arab and European banks who supply credit to companies in the African country.
*Translated by Mark Ament
