Bank of Khartoum

What Bank of Khartoum does

Bank of Khartoum (BOK), founded in 1913 and headquartered in Khartoum, is Sudan's oldest and largest Islamic financial institution, operating under Sharia-compliant principles across retail, corporate, SME, microfinance, treasury, and trade finance. The bank holds a USD 2 billion balance sheet, employs approximately 2,600–3,000 people, and runs the country's largest physical distribution network of 140+ branches and cash offices and 300+ ATM/CDMs. Its shareholder base is anchored by GCC institutional investors — Dubai Islamic Bank as the largest shareholder, alongside Islamic Development Bank, Abu Dhabi Islamic Bank, and Sharjah Islamic Bank — and the group is the only Sudanese financial institution delisted from the OFAC sanctions list (April 2011), positioning it as the de facto bank for the United Nations, NGOs, embassies, and corporate clients operating in Sudan.

The group's product and technology stack spans a digital banking ecosystem (Bankak mobile app, iBOK retail internet banking, iBOK+ corporate internet banking, digital onboarding, Bankak Pay QR merchant payments, POS terminals) layered over a traditional Islamic product set: current, savings, investment/fixed deposit, Mudarabah-based saving-plus, children's (Dukhry), and premium-foreign accounts; tiered Visa debit and prepaid cards (Gold, Platinum, Infinite, virtual and physical); Smart Buy and Education financing; Western Union and home remittance; and a 24/7 Mubasher call center. Seven operating subsidiaries extend the group into adjacent verticals — IRADA Microfinance, Sanabel Securities (top-3 on Khartoum Stock Exchange), SudaCash exchange/remittance, National Trading Services (import/export across 20 sectors), Wahat Al Khartoum commercial real estate (a 22,000 sqm shopping mall), Al Fahed asset transit, and Canar Telecommunications. International operations consist of two Islamic wholesale branches: BOK International – Bahrain (licensed by the Central Bank of Bahrain, 9 November 2015) and BOK International – UAE (full-service commercial bank license from CBUAE, May 2017), the latter being the only foreign bank so licensed in the past decade.

The revenue model blends spread-based Islamic banking (Murabaha, Mudarabah, Ijara financing across retail, corporate, SME, and microfinance) with transaction-driven fee streams (foreign exchange via SudaCash, remittances via Western Union, brokerage via Sanabel, card interchange via Visa) and ancillary non-bank income from the group's trading, real estate, and telecommunications subsidiaries. Customer acquisition is hybrid: a 140+ branch sales-led network for enterprise, SME, and high-net-worth segments (Premier, Al Nukhba) combined with a direct-to-consumer digital onboarding funnel through Bankak and iBOK. The bank maintains the first IIRA credit rating (AA- long-term, A-1 short-term, Stable outlook) awarded to any Sudanese institution and operates a 37-bank international correspondent network spanning the GCC, Europe, and Asia.

Name

Bank of Khartoum

Legal name

Bank of Khartoum

Website

https://bankofkhartoum.com

Company type

Private

Founded year

1913

Operating status

Operating

Headcount range

101–250 employees

Short description

Bank of Khartoum is Sudan's oldest and largest Islamic financial institution, founded 1913, offering Sharia-compliant retail, corporate, SME, and microfinance banking through 140+ branches, 300+ ATMs, and a digital platform (Bankak, iBOK) to individuals, businesses, UN/NGO/embassy clients, and GCC-linked corporates.

Ownership category

akta.pro rank

Product category

Islamic Commercial Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic Retail Banking (FSABAGAA), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF), Islamic Trade Finance & Supply Chain (Shariah-compliant) (FSABAGAE), Islamic Private Banking & Wealth (FSABAGAD), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)

Keywords

• Islamic retail banking
• Corporate banking services
• Trade finance solutions
• Microfinance products
• Remittance services

Headquarters

HQ city

Khartoum

HQ country

Sudan

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Corporate Banking Services: Full corporate banking solutions including Cash Management, Treasury and FI services for corporate clients
2. Retail Banking Products and Services: Full suite of retail products and services including current accounts, savings accounts, investment deposits, and financing products
3. SME and Microfinance: Financial services for small and medium enterprises and microfinance operations through IRADA Microfinance Company subsidiary
4. Securities and Brokerage: Stock brokerage services through Sanabel Securities subsidiary, providing services related to securities and stocks listed on Khartoum Stock Exchange
5. Trade Services: Import/export trading and marketing services through National Trading Services Co. Ltd. subsidiary, handling commodities across 20 sectors
6. Exchange and Remittance Services: Foreign exchange services and money transfer through SudaCash subsidiary, Western Union partnership, and home remittance services
7. Real Estate Development: Commercial real estate through Wahat Al Khartoum development project, a mixed-use lifestyle hub with shopping mall, corporate offices, and hospitality services

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels7 records

Core offering

Bank of Khartoum is Sudan's oldest and largest Islamic financial institution, providing Sharia-compliant retail banking (current/savings/investment accounts, Visa debit and prepaid cards, consumer and education financing, remittances), corporate banking (cash management, treasury, correspondent banking, trade finance), SME and microfinance through IRADA, plus ancillary services through subsidiaries in brokerage (Sanabel), exchange (SudaCash), trading, telecommunications, and real estate. Distribution spans 140+ branches and 300+ ATMs in Sudan, supported by Bankak mobile banking, iBOK internet banking, and wholesale branches in Bahrain and UAE.

Product overview

Bank of Khartoum operates as Sudan's oldest and largest Islamic financial institution, offering a comprehensive digital banking platform complemented by extensive retail and corporate banking services. The core digital ecosystem consists of the Bankak mobile app (enabling QR payments, transfers, bill payments, and cardless withdrawals), iBOK individual internet banking, and iBOK Plus corporate internet banking. The bank provides a full suite of Islamic retail products including Current, Savings, Saving Plus, Investment/Fixed Deposit, Dukhry Kids, and Premium Foreign accounts; Visa debit cards across Gold, Platinum, and Infinite tiers; prepaid cards (virtual and physical); Smart Buy and Education financing programs; and Western Union/Home remittance services. A network of 300+ ATMs/CDMs, POS terminals, the Mubasher call center, and digital onboarding support the physical and digital distribution. The group includes subsidiaries in microfinance (IRADA), stock brokerage (Sanabel Securities), telecommunications (Canar), trading (National Trading), real estate (Wahat Al Khartoum), money exchange (SudaCash), and two international branches in Bahrain and UAE.

Differentiator

Problem solved

Functional benefit

Brands

• Bankak: Mobile banking application for personal banking, payments, QR code payments, and account management
• iBOK
• iBOK+
• Mubasher
• IRADA Microfinance
• Sanabel Securities
• SudaCash
• Al Nukhba
• Premier

Products and services

• Bankak Mobile Banking
• iBOK Individual Internet Banking
• iBOK Plus Corporate Internet Banking
• Personal Current Account
• Personal Savings Account
• Investment / Fixed Deposit Account
• Dukhry Kids Bank Account
• Visa Debit Cards (Gold / Platinum / Infinite)
• Prepaid Visa Cards (Virtual and Physical)
• Smart Buy Finance
• Education Finance
• Western Union Remittance Service
• Home Remittance Service
• Premier Banking Services
• Al Nukhba Premium Banking
• Merchant POS and QR Acceptance Services
• IRADA Microfinance Services
• Sanabel Securities Brokerage
• SudaCash Exchange Services
• National Trading and Services
• Wahat Al Khartoum Real Estate Development
• Bank of Khartoum International - Bahrain
• Bank of Khartoum International - UAE
• Corporate Banking Solutions

Quantifiable outcome

• Largest Islamic bank in Sudan with USD 2 billion balance sheet
• +2 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and major.

• Central Bank of BahraincoreOthersRegulatory body that licensed Bank of Khartoum International - Bahrain on 9 November 2015 as an Islamic wholesale bank.
• Central Bank of the UAE (CBUAE)coreOthersRegulatory authority that granted BOK International a full service commercial bank license in May 2017, the only foreign bank to receive such license in the past decade.
• VisacoreTechnology or IntegrationPartnership for Visa debit and prepaid card issuance. BOK offers Gold, Platinum, and Infinite Visa debit cards with global acceptance and various spending limits.
• Western UnionmajorTechnology or IntegrationInternational remittance service partnership enabling customers to send and receive money globally through BOK branches.
• Correspondent Banks NetworkmajorOthersExtensive network of 37 correspondent banks including Abu Dhabi Islamic Bank, Dubai Islamic Bank, Qatar Islamic Bank, National Commercial Bank Saudi Arabia, Riyadh Bank, and banks across UAE, Qatar, Saudi Arabia, Bahrain, Oman, Switzerland, Italy, Germany, Cyprus, Lebanon, UK, France, China, Egypt, Jordan, Turkey, Belgium, Korea, Ethiopia, Tunisia, India.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Faisal Islamic Bank of Sudan: Faisal Islamic Bank of Sudan is one of Sudan's largest Islamic banks, directly competing with Bank of Khartoum across retail, corporate, and SME Islamic banking segments. It shares the same Sudanese customer base, Islamic banking regulatory framework, and Shariah-compliant product set, making it the closest head-to-head comparable in Sudan.
• Saudi Sudanese Bank: Saudi Sudanese Bank is a Sudanese commercial bank with significant GCC shareholder backing, directly competing with Bank of Khartoum for corporate, retail, and Islamic banking customers in Sudan. Comparable in business model, regulatory environment, and target segments.
• Omdurman National Bank: Omdurman National Bank is one of Sudan's largest commercial banks, offering retail and corporate banking products in the same domestic market as Bank of Khartoum. Both banks compete for Sudanese deposits, government contracts, and corporate lending, with overlapping branch networks.
• Sudanese Islamic Bank: Sudanese Islamic Bank is a domestic Sudanese bank offering Islamic-compliant banking products, directly overlapping with Bank of Khartoum's Shariah-compliant retail and corporate banking franchise. Comparable in regulatory regime, customer base, and product offerings within Sudan.

Broad incumbents

• Dubai Islamic Bank: Dubai Islamic Bank is the largest shareholder of Bank of Khartoum and the UAE's flagship Islamic bank. Comparable as a large-scale Islamic commercial bank serving retail and corporate customers across retail, corporate, treasury, and trade finance—offering a reference point for BOK's potential scale and product roadmap as a regional Islamic banking incumbent.
• Abu Dhabi Islamic Bank: Abu Dhabi Islamic Bank is a major shareholder of Bank of Khartoum and a leading UAE Islamic bank. Comparable in Islamic banking products (Mudarabah deposits, Murabaha financing, Sukuk), GCC regulatory environment, and corporate/retail banking mix—serving as a strategic peer for benchmarking growth and digital strategy.
• Qatar Islamic Bank: Qatar Islamic Bank is the largest Islamic bank in Qatar and a correspondent banking partner of Bank of Khartoum. Comparable as a full-service Islamic commercial bank with retail, corporate, treasury, and investment banking capabilities under Shariah principles, providing a regional benchmark for product breadth and scale.
• Al Rajhi Banking Group: Al Rajhi is the world's largest Islamic bank by assets and a leading GCC Islamic banking franchise. Comparable in offering the full Islamic banking product suite (Mudarabah, Murabaha, Ijarah, Salam) to retail and corporate customers, providing a reference for digital banking scale and Islamic product innovation that BOK could emulate.

Emerging players

• Al Baraka Banking Group: Al Baraka Banking Group operates Islamic banking subsidiaries across multiple jurisdictions including Bahrain (where Bank of Khartoum International is licensed). Comparable as a wholesale and retail Islamic bank offering trade finance, treasury, and correspondent banking services—overlapping with BOK's Bahrain operations and product mix.

Regional players

• Bank of Khartoum International - Bahrain: BOK International - Bahrain is the bank's own Bahrain-incorporated Islamic wholesale branch, but is also comparable to other Bahrain-licensed Islamic wholesale banks (e.g., Al Baraka Islamic Bank, Al Salam Bank). Functions as a regional trade finance and correspondent banking hub, similar in scope and product set to other Bahrain-based Islamic wholesale banks.

Market position

Strengths5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/bankofkhartoum

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Khartoum