Sudan's Finance Minister, Dr. Gibril Ibrahim, has urged insurance companies operating in the country to direct a portion of their surplus funds and deposits towards financing the winter agricultural season. This move aims to support production and enhance food security in the country. The minister made this call during a meeting with the general managers of insurance companies, which was attended by the Secretary-General of the Insurance Supervision Device, Tariq Al-Nur Huda Hassan, and the Deputy Governor of the Central Bank of Sudan, Dr. Sami Abdul Hafiz.
The meeting, described as productive by the General Manager of the Sudanese Agricultural Bank, Salah Muhammad Abdul Rahim, discussed ways to utilize the financial resources available with insurance companies to finance the winter agricultural season. The season is approaching and faces significant challenges. The minister emphasized the importance of the insurance sector's contribution to supporting food security by providing the necessary financing for the season.
According to the General Manager of the Sudanese Agricultural Bank, insurance companies have expressed their willingness to allocate a portion of their resources to support the winter agricultural season. This will provide financing resources that contribute to supporting the productive economy and enhancing agricultural activity. The minister's call comes amid concerns about the country's food security situation, with some external parties suggesting that Sudan may face famine.
However, Dr. Gibril Ibrahim assured that these concerns are unfounded. He emphasized the need for insurance companies to play a role in supporting the country's economic development. The Secretary-General of the Insurance Supervision Device, Tariq Al-Nur Huda Hassan, revealed that the meeting discussed the possibility of investing insurance surpluses in financing the winter agricultural season.
Hassan stated that the meeting, which was attended by all insurance companies operating in the Sudanese market, aimed to explore ways to support the country's economic development. The general managers of insurance companies agreed on the importance of contributing to the development process and pledged to play a role in guaranteeing the agricultural season. This will provide protection for farmers and support the insurance of export crops.
The Sudanese government is seeking to enhance food security and support the agricultural sector, which is a significant contributor to the country's economy. The winter agricultural season is a critical period for farmers, and the government's efforts to provide financing and support are crucial in ensuring a successful harvest.
The insurance sector's contribution to supporting the winter agricultural season is seen as a positive step towards enhancing food security and supporting the country's economic development. The government's efforts to engage with insurance companies and other stakeholders are expected to yield positive results in the coming months.
Key points
- Sudan's Finance Minister, Dr. Gibril Ibrahim, has urged insurance companies to support the country's winter agricultural season by allocating a portion of their surplus funds.
- The insurance sector's contribution to supporting the winter agricultural season is seen as a positive step towards enhancing food security and supporting the country's economic development.
- The government's efforts to engage with insurance companies and other stakeholders are expected to yield positive results in the coming months.
