August 11 – 2021 KHARTOUM The launch of Mastercard payment services in Sudan by Faisal Islamic Bank (FIB) this week, has been heralded as an important milestone as Sudan re-joins the international financial community.
FIB will issue Mastercard-branded debit, credit, and prepaid payment cards in Sudan for use online, in-store, and at ATMs. FIB will also connect local businesses to the Mastercard network.
The establishment of Mastercard services in Sudan is a further sign of the country being welcomed back into the international financial fold.
This followed news about efforts by the transitional government of Sudan that led the country to reach the Decision Point under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative as announced in June, after Sudan’s debt arrears to the World Bank, the International Monetary Fund (IMF) and the African Development Bank (ADB) were cleared, and about the Paris Club creditors group’s cancellation of $14.1 billion in Sudanese debts.
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