“Electronic Banking Problems and Opportunities: The Sudanese Context”

Abstract

The term electronic banking means an electronic handling of all types of banking business, primarily over the internet. E-Banking is one of the most successful on-line businesses, which save the individuals and companies time and money. This paper investigates the problems and opportunities of the electronic banking in Sudan, whereas, the provision and use of financial services and products that conform to interest-free banking principles which pose many challenges. Banking sector plays a crucial role in economic growth, it allows an efficient transfer of resources from those who save to those who invest under certain rules and regulations, and this study highlights the fact that changes have always been the hallmark of this sector. Here, this study replicates, extends and adds a longitudinal dimension to a recently introduced information technology in banking and financial institutions. The study reviews the experience of the Sudan as a developing country, and it concludes that regardless of the progresses achieved in recent years namely, enacting of electronic transactions Act 2007, the study finds out many deficiencies, poor infrastructure, and lack of skilled and well-trained human resource force in banking sector and security, which remain the key factors that constrain the applicability of e-banking.

Keywords: Electronic Banking, Problems, and Opportunities.