Cabinet endorses bill on organization of Sudanese stocks of exchange

The Council of Ministers adopted, during its regular meeting headed Thursday by the First Vice President of the Republic Bakri Hassan Salih, a bill on organization of Sudanese stocks of exchange for the year 2014.
According to the bill an authority on organization of stocks of exchange and other markets will be established for observing their activities to promote investment and safeguard dealers and investors as well as ensuring commitment with Islamic Sharia.
The Cabinet Spokesman Dr. Omer Mohamed Salih said, in statements to the press following the meeting, that the Council of Ministers has also endorsed the bill of Stock of Exchange for 2014, presented by the Minister of Finance and National Economy Badr-Eddin Mahmoud and according to which the Stock of Exchange Act of 19994 and the Bond Act of 1995 will be cancelled.
Dr. Salih pointed out that the Sudanese Stock of Exchange aimed at provision of factors helping in instant liquidation of capitals invested in the financial securities alongside establishment of the code of conduct and self supervision.