The Central Bank of Sudan has announced a complete ban on private gold exports, effective September 15. According to the Sudan Tribune, citing an official statement from the bank, the state is now the only legal buyer and exporter of the precious metal.
The decision follows a recommendation issued by the Supreme Committee for Emergency Economic Measures on September 2. The authorities aim to curb large-scale gold smuggling to the UAE and Egypt and protect foreign exchange reserves needed to import essential goods such as wheat and fuel.
Under the central bank's directive, all gold mined by artisanal miners and waste processors must be sold exclusively to the Central Bank of Sudan or its agents at international market prices through the state-owned Sudan Gold Refinery. Export by third parties is strictly prohibited.
An exception is made only for gold sent abroad for refining with mandatory subsequent return. Such operations require approval from the Ministry of Industry and Trade, a certificate of compliance, and a bank guarantee. The refined gold must be returned to Sudan within one month.
In 2024, Sudan earned $1.5 billion from gold exports over a 10-month period.
