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Bank of Khartoum’s commendable work impacting many rural lives in Sudan purely through Islamic Financing Tools.


Bank of Khartoum, is the largest financial and banking institution in Sudan In 2016,the bank achieved 27% return on equity, 3% return on assets with a balance sheet asset size of an equivalent of US $ 2.8Billion. Moreover, the bank achieved a (AA-) rating for its fifth consecutive year by Islamic International Rating Agency (IIRA) and considered the only bank that has been de-listed from OFAC SDN list since April 2011.

Bank of Khartoum’s shareholders are leading regional Islamic and financial institutions lead by Dubai Islamic Bank, Islamic Development Bank Jeddah, Abu Dhabi Islamic Bank, Sharjah Islamic Bank along with many other prominent Sudanese and Regional businessmen. The bank has pioneered and contributed to the development of many Islamic products and banking services. The most significant initiative of the bank had been the establishment of IRADA Islamic Microfinance institution in partnership with Islamic Development Bank Jeddah. Recently, the approval of the Central Bank of the United Arab Emirates allowed the first external presence outside Sudan by having a representative office.


Where once there was barren land, the Bank of Khartoum invests in greenhouse projects and collaborates with cooperatives made up of Sudan’s poor, unemployed and recent graduates to farm new crops and create opportunities for cooperative members. For the Bank of Khartoum, offering Sharia-compliant financial products is a central element as part of these projects to reach small-scale farmers.

Sharia-compliant banking offers a profit-sharing model for its members, as it prohibits the acceptance of specific interest or fees for loans or money. This method of banking has made significant changes in the lives of its cooperative members. One man has used his farming profits so far to purchase three goats, a refrigerator, and a television for his family. A woman farmer made enough of a profit through her farming cooperative that she was able to contribute with her family to her wedding.

“Islamic banking is about how much you can contribute to the market, rather than being just an intermediary and taking a cut from the profit,” says Fadi Salim Al Faqih, CEO of the Bank of Khartoum.

For such Sharia-compliant products serving the poor, the Bank of Khartoum was recognized as one of three finalists in the Islamic Microfinance Challenge. The Consultative Group to Assist the Poor, CGAP, partnered with the Islamic Development Bank, Al Baraka Banking Group, and Triple Jump to sponsor this global contest aimed at spurring innovation and scaling up Islamic financial products. The idea behind the Islamic Microfinance Challenge is to encourage microfinance providers to broaden their range of Islamic microfinance products and, in doing so, find new ways to serve Muslim microfinance clients.

With an estimated 650 million Muslims living on less than $2 a day, examples like the Bank of Khartoum show that Islamic microfinance can play a key role in bringing the poor into the financial mainstream. BoK’s work has been recognized by the World Bank and many other institutions alike.

Some of Micro-Finance work focused on the Farming / Rural Sectors carried out by the Bank is summarized below –


This project is financed through Mudaraba mode. The project aimed at generating economic opportunities for Sudanese’s graduates & the low-income population segmentby empowering 125 graduates& their families in modern agricultural sector and also through smart finance products. This Project consists of 25 productive greenhouses, each greenhouse contains 5 tunnels.

Project Objectives:

·         Provide business opportunities for graduates;

·         Increase the income of project beneficiaries;

·         Provide training & technical support for beneficiaries;

·         Develop & diversify the field & crops of greenhouses agriculture;

·         Support & increase winter season crops during summer season;

·         Increase the GDP, Exports and Productivity

The project targets to produce 1200 ton of vegetables annually, focusing on summer production to provide winter season crops, and produce rare products around the whole year in the winter.

Summer Crops includeHot Charliston Pepper, Sweet Charliston Pepper, Tomato, Cucumber, YellowPepper&Red Pepper.

Winter Crops include Green Beans, Cherry Tomato, Broccoli, Red & white Cabbage, Ice-Burg Lettuce, etc.

Beneficiaries: 125 Graduates’ familieswherein each family consist of 5 individual as average number.

Project Module: Mudaraba for groups with 71.5% contribution from BoK (as the Rab-al Mal) & 28.5 % fromthe Graduates/ Families (Mudarib).

Finance amount: about SDG 28,000,000.00

Durationof Finance: 15 years


This project financed through Salam module. The project aimed to generate economic opportunities to families in the rural sector & low income people; population segment; through empowering 150 family in traditional agricultural sector and also through smart finance products.

The finance help provide families with:

        I.            Direct investment: Electric source, Water source, Cultivationequipment;

      II.            Indirect investments or supportive investment service ,security & production facilities;

    III.            Direct expenses: All cultivation operation costs (Seeds, Fertilizers, etc.);

    IV.            Living expenses: for vegetable cultivation & livestock breeding;

      V.            Technical Support: smart partnership with Green Ishraqa Co. to provide technical support(know how) & insure production quality,

The project targets to annually produce 50 ton of Moringa Seeds, 10 ton of Jatropha Seeds, 150 ton of Moringa Alfalfa, 100 ton of vegetables (only for community uses).


A smart partnership with has been arranged with field expert  Green Isharqa Co. to provide beneficiaries with all technical support starting from seedling operations up to harvesting operations. Then link them to the local & global markets.

Number of projects: 15 farms located in different country states, 30 acres in each farm, 3 acres for each family.

Number of beneficiaries: 150 families each family consist of 5 individual as average number.

Finance amount: about SDG 13,000,000.00

Project Duration: 3 years


This project features several finance products designed to meet project main goals through a structured Diminishing Musharakah finance to prepare fattening environment (covering Assets &partial operational expenses) to boost the dairy industry. The project targets 100 families & their members through provision on financial services (credit, saving) and non-financial services (training, capacity building, marketing & management principles).


The project represents the first projects mainly introduced to develop the social support & services sector in the country.Electricity Connection Projects directly targets citizens in different places around the country. Through agreement with Ministry of finance, finance projects are structured to provide credit to such projects targeting the Power Infra Sector.

Project Objectives

·         To meet the needs of low income citizen for electricity service;

·         Provide continuous electricity power in the area with low cost compared to other sources;

·         Help the development of industrial & productive projects;

·         Help the government on initiation of infrastructure of the country;

·         Diversify the microfinance services provision;

·         Increase customers base for the Company;

·         Create liabilities through cash margin to be paid and Generate Profits for the Company;

·         Provide continuous electricity power in targeted areas;

·         Attract the surrounding areas to get the finance;

·         Development of Industrial & Productive Services;

·         Encourage citizens to create new businesses as new source of income generation through other services of microfinance.

Project Duration: from 1-5 years per project size and requirements.








Posted Date : 18 October 2017

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