Sudan gold exchange to help bolster foreign-currency reserves

Sudan produces as much as 120 tons of gold a year. (Reuters)
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Updated 24 June 2021
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Sudan gold exchange to help bolster foreign-currency reserves

  • Most Sudanese gold is smuggled out of the country
  • Exchange will initially offer spot trades only, with futures and options to come

RIYADH: The launch of a gold exchange in Sudan will help regulate trade in the yellow metal and eliminate the smuggling that has led to a scarcity of foreign currency in the country, the Financial Markets Authority (FMA) Director General, Shawgi Azmi said in an interview with Asharq.

In 2019, 127 tons of Sudanese gold was traded on foreign exchanges, while official statistics from the central bank showed that Sudanese production amounted to only 20 tons, he said.

Sudan is one of the largest African gold miners, producing between 70 and 120 tons annually, and as many as 5 million of its citizens involved in gold prospecting, Azmi said.

The gold exchange will start with the spot sales only, while other terms of trade, such as futures contracts and options, are expected to be introduced at a later stage.

Sudan’s prime minister is expected to agree soon to launch a commodities exchange focused on agricultural crops, while the FMA is researching a livestock exchange, Azmi said.


Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

A Harvard sign is seen at the Harvard University campus in Boston, Massachusetts, on May 27, 2025. (AFP)
Updated 10 February 2026
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Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

  • The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts

RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.

The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.

Al-Nobala has leveraged international expertise to localize advanced learning methodologies.

The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.

According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.

“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.

The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.

Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.

Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.