By: Ahmed Alhaj (Site Admin)
KHARTOUM — The Faisal Islamic Bank, Sudan, (FIB) organized at the Friendship Hall here Thursday night its annual symposium titled (Referendum Consequences and Repercussions on Sudan). Speakers on the occasion were economist and former Finance Minister Abdul Rahim Hamdi and economist and former Finance Under-Secretary Sheikh Mohamed al-Mak. FIB General Manager Ali Omer Ibrahim Farah said the symposium is part of the periodic programmes the Bank regularly organizes for discussion issues of concern to the citizen. Last year's symposium was devoted to the global financial crisis, he said, hoping that the current one would contribute to finding solutions that might enable the Sudan to avert the adverse impact of secession if the result of the self-determination referendum was separation of south Sudan. Stating that he would concentrate on the political side of the referendum, Hamdi called upon the National Congress Party (NCP) to accept the result of the poll without objection and without raising doubts of transparency, fairness and border demarcation. The international community, represented by the West, has accepted the general elections only in order to reach the stage of referendum and then to secession that would result in the establishment of a southern state that would be independent of the north. He called for formation of an economic union between the northern and southern states. Sheikh Mohamed al-Mak, for his part, spoke on the political, economic and financial consequences of the referendum. He said that in case of secession the losses in the general treasury revenues would reach 6.7 billion pounds, representing 33% of the total national revenues. The saving in the public expenditure, as a result of secession, would reach 4.55 billion pounds, that is 22%of the total general expenditure, Mak said. He made a number of proposals for sharing the foreign debts and other assets in case of secession. Mak appealed to the two parties to halt shouts of war and to make secession a peaceful and gradual one. Although he has pointed out that those proposals are not shared by his Bank, FIB General Manager Ali Farah noted that statements on secession dues were for the first time made by influential figures of the NCP which has raised the banner of voluntary unity and has declared to do so till the last moment of the referendum in commitment to the Naivasha agreement which stipulates that the two parties adhere to the unity option.
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