Farouck Mohamed ElnoOr Hussin (Kambareesi)
Ruwi
Summary
A passionate and inspiring economic expert and leader specializing in Macroeconomic Policy and Monetary Economics in the Digital Age with solid econometrics and first-class technical skills. I served as Deputy Governor at the Central Bank of Sudan (CBOS), from June to November 2021, advancing economic reform dialogue within the Government and with the IMF, World Bank, and other international partners. Presently, I am working as an Economic Expert at the Central Bank of Oman (CBO) since August 2022. Experience with CBO from January 2017 to June 2021, and the CBOS from 2007 to 2016 equipped me with the necessary skills to be an active part of any international institution. I served formerly as Financial Analyst at Khartoum Stock Exchange (2004-2007) and Statistical Analyst in NGO (2003-2004). Have achieved key professional accomplishments in macroeconomic policy, monetary economics, financial sector development, banking supervision, payment systems, financial inclusion, financial stability, digital transformation of banking sector with focus on Fin-Tech, AI, Blockchain Technology, Big Data, Cloud and the related Cyber Risks. I served on several technical committees, including Sudan’s Article IV Consultation review committee, monitoring and implementation of Staff Monitored Program (SMP), Financial System Stability and Development Multi-disciplinary committee for Common Market of East and South Africa (COMESA), and CBOS committee on implementation of Governance, Risk and Compliance (GRC). High academic qualifications including Master in Economic Policy Management from Columbia University in the New York City in 2015 with distinction, and MBA degree from University of Khartoum in 2008 also with distinction. Besides the BSc Econometrics & Social Statistics from University of Khartoum in 2003.
Overview
18
18
years of professional experience
Work History
Economic Expert
Central Bank of Oman
08.2022 - Current
- Analyze and design an appropriate mix of monetary, and exchange rate policies to promote and maintain macroeconomic stability, addressing issues of good economic governance, examining issues of current account sustainability.
- Writing technical and non-technical reports and policy briefs on economic trends and forecasts.
- Provide policy advice on Oman economic developments, macroeconomic issues through policy analysis and the production of macroeconomic forecasts.
- Provide advice, developing policies, conducting research, and delivering teaching in assigned fields.
- Contribute to the world-class, ground-breaking research the CBO conducts on policy-related issues.
- Explore ways and means to for external sector development, modeling the external sector of Oman economy, as measured by the overall balance of payments, build and estimate external sector model, which can serve as a veritable tool for assessing and making forecast of external sector indicators, and developing criteria for assessing sustainability of current account imbalances.
- Assist staff economists with their research and contribute to the monetary policy process by conducting advanced econometric analysis of current economic developments.
- Analyze developments in field of expertise and draws conclusions about implications for outlook and economy.
- Guide the formulation of macroeconomic policies to achieve economic goals and interaction between different macroeconomic policies.
- Lead work on monetary policy enhancement framework.
- Handle matters related to collaboration/liaison with multi-lateral/international agencies like IMF, World Bank, AMF, Rating Agencies, etc.
- Handle matters in the areas of digital economy financial technologies relevant to Oman Banking Sector, such as Fintech, Fintech Regulatory Sandbox, AI, Blockchain, Big Data, Central Bank Digital Currency (CBDC), Cloud services and the related Cyber Risks.
Deputy Governor
Central Bank of Sudan
06.2021 - 11.2021
- Following the formation of a transitional Government in 2019, Sudan emerged on a difficult economic reform path in which the Central Bank plays a key role in establishing macroeconomic stability.
- After successfully entering the HIPC debt restructuring process and agreeing with the IMF on an Extended Credit Facility, I was brought in to help lead the economic reform program.
- I worked to modernize the organizational structure of the central bank to strengthen AML/CFT compliance, introduce a bank resolution process, among other reforms.
- I led, in coordination with Governor, the economic reform dialogue with international financial institutions IMF, World Bank, and African Development Bank.
Islamic Banking Executive
Central Bank of Oman
01.2017 - 06.2021
- Managed the research, compilation, analyses, interpretation, and preparation of data on economic conditions.
- Provided assistance on all banking matters including preparing Board of Governors papers and related issues for presentation to CBO higher Management.
- Assisted in building and maintaining key relationships with government ministries and various other institutions in Oman and other relevant countries to gather and keep a steady flow of vital economic, financial, regulatory and other information for use in publications, for use by Senior Management, departments within the Bank.
- Handled matters related to transformative technologies relevant to Oman Banking Sector, such as Fintech, Fintech Regulatory Sandbox, AI, Blockchain, Big Data, Central Bank Digital Currency (CBDC), Cloud and the related Cyber Risks.
- Guided the formulation of Policies and rules for regulating Islamic Banks and Windows.
- Provided assistance on all banking matters including preparing Board of Governors papers and related issues for presentation to CBO higher Management.
- Handled matters related to collaboration/liaison with multi-lateral/international agencies like IMF, World Bank, AAOIFI, IFSB, AMF, Rating Agencies, etc.
- Provided roadmap for growth of the sector and guiding on healthy and complaint progress.
Senior Economist
Central Bank of Sudan
09.2007 - 12.2016
- Designed of the monetary policies through setting quantitative targets concerning the inflation as the ultimate target and monetary aggregate as a nominal anchor, conduct research and studies related to the monetary policies, evaluate the monetary policies pursued by the CBOS to ensure proper implementation and conduct of monetary policies especially with respect to inflation and monetary targets.
- Contributed to the preparation of Sudan’s Article IV with IMF Mission, and Staff Monitored Program (SMP).
- Coordinated all IMF missions meeting with commercial banks, Government entities, other institutions such as foreign embassies in Sudan, United Nations, and leading private sector entities.
- IMF desk Division: International Monetary Fund (IMF) Desk chief at Policies Department. This involved: Coordination for the IMF missions to Sudan, preparation of various policy reports and participation in IMF meetings abroad.
- Attended in regular basis the IMF & WBG meetings (spring and Annual Meeting) at Washington DC with Minister of Finance & Economic Planning (Sudan’s Governor at IMF & WBG) and Central Bank of Sudan Governor (as Alternate Governor at IMF & WBG).
- Contributing in the preparation of Sudan’s Article IV with IMF Mission, and Staff Monitored Program (SMP).
- Coordinated IMF mission meeting with commercial banks, Government entities, foreign embassies in Sudan, United Nations, and leading private sector entities.
Short-term Consultant
Multilateral Investment Guarantee Agency (MIGA)
06.2015 - 09.2015
- Company Overview: The World Bank, 1818 H Street NW, Washington DC, 20433
- Updated and developed a Econometrics Model for Transfer Restrictions (TR) ratings for MIGA sample of countries and compared this model with the Standard & poor’s (S & P) methodology in order to highlight the main differences, assessment of MIGA Transfer Restriction and presents the key determinants of the final model, and risk assessment for Transfer & Convertibility Restrictions, which include the following risk factors; Exchange regime (flexible, fixed, currency board, etc.), FX liquidity position and its likely development over the period of guarantee, Extent of macro-economic imbalances (fiscal, current account...), External debt service ratio, External debt position, composition (short vs. Long-term), Dependence on key exports, Vulnerability to commodity price swings, Volatility of economic growth, vulnerability to shocks, and track record of transfer and convertibility restriction/delays.
- The World Bank, 1818 H Street NW, Washington DC, 20433
Education
Master Degree - Economic Policy Management
Columbia University
01.2015
Master of Business Administration (MBA) -
University of Khartoum
01.2008
BSc (Honors) - Econometrics & Social Statistics
University of Khartoum
01.2003
Skills
- Decision-making
- Analytical skills
- Central bank management
- Macroeconomics
- Econometrics
- Financial sector reform
- Effective communication
- Problem identification
- Problem analysis
- Leadership
- Team-building
- Ability to work individually
- Ability to work within a team
Committee Membership
- Sudan’s Article IV Consultation review committee
- Staff Monitored Program (SMP) monitoring and implementation committee
- Financial System Stability and Development multi-disciplinary committee for COMESA
- CBOS committee on implementation of Governance, Risk and Compliance (GRC)
Professional Expertise
- International Economics & Financial Issues
- Macroeconomic Policies
- Macroeconomic Modelling & Forecasting
- Digital Economy
- Financial Sector Development
Selected Research Papers
- Monetary Policy for Inclusive & Sustainable Development in Sudan; Challenges, Prospects & Policy Options, International Journal of Case Studies (IJCS), 12/2020, https://www.casestudiesjournal.com/volume-9-issue-12/
- How Sudan De-Listing from the State Sponsors of Terrorism List (SSTL) will affect the Economy?, Research Gate, 11/2020, https://www.researchgate.net/publication/346212198
- Navigating Sudanese Economy in the Transitional Period: Sudan’s Path to Debt relief, International Journal of Case Studies (IJCS), 10/2020, https://www.casestudiesjournal.com/volume-9-issue-10
- Why Sudan Deserves Lifting US Sanctions and Debt Relief, 10/2016
- The Role of CBOS in Covering the Liquidity Shortages: Case Study: CBOS Liquidity Management Fund
- Monetary Policy for Inclusive and Sustainable Development: Addressing the Challenges and Meeting the Potential
- How Financial Technology (Fintech) is shaping the Future of Banking Sector in Sudan?
Contact
+96891390581, +96891390420, Fmh2117@columbia.edu, Farouk.abdullah@cbo.gov.om, Farouck35@gmail.com
Personal Information
- Child Name: Nadine
- Child Name: Hussin
- Date of Birth: 03/17/80
- Nationality: Sudanese
- Marital Status: Married
Timeline
Economic Expert
Central Bank of Oman
08.2022 - Current
Deputy Governor
Central Bank of Sudan
06.2021 - 11.2021
Islamic Banking Executive
Central Bank of Oman
01.2017 - 06.2021
Short-term Consultant
Multilateral Investment Guarantee Agency (MIGA)
06.2015 - 09.2015
Senior Economist
Central Bank of Sudan
09.2007 - 12.2016
Master of Business Administration (MBA) -
University of Khartoum
BSc (Honors) - Econometrics & Social Statistics
University of Khartoum
Master Degree - Economic Policy Management
Columbia University
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