Calls for printing new banknotes

Sudan Events – Nahid Oshi

The economic expert, Dr. Haitham Muhammad Fathi stressed on the necessity of withdrawing large denominations of cash from circulation.

In his interview with Al-Ahdath, Fathi considered the large cash denomination a hoarding currency that is not circulated among the general public in daily transactions, and is used in some legally illegal activities, and he added:
Therefore, leaving these denominations causes serious harm to the economy, and affects the exchange rate of the Sudanese pound, and the decision to withdraw them must be studied in accordance with the controls and mechanism of procedures related to combating money laundering crimes and the financing of terrorism, pointing to the fear after the high rates of counterfeiting in large monetary denominations, the continuation of counterfeiting, and the expansion of The scope of its circulation, and its indistinguishably by citizens.

Fathi noted the priority of studying the change of the Sudanese pound in all its denominations, rather than just studying the feasibility of issuing large banknotes.
He cited India’s step in changing the form of the currency as enabling it to eliminate corruption and tax evasion, and to cleanse the country of black money.

He stressed that changing the currency requires political stability and improving economic conditions so that there are production tools, natural resources, and foreign trade, through which the stock of hard currencies can be increased, and thus the economy can be improved.