An Official Recommends Minting Sudan’s Gold
Sudan Events – Rehab Abdullah
The Head of the Capital Markets Regulatory Authority, Dr. Shawqi Azmi Mahmoud has denied his knowledge of to what destination Sudan’s gold is currently being exported, after the Khartoum gold refinery stopped and was destroyed by the Rapid Support militia (RSF).
In his speech to (Sudan Events), Azmi stressed the necessity of signing an agreement with one of the recognized refineries to filter, approve and stamp the gold, thus selling it on any international stock exchange becomes a very simple matter.
Azmi renewed his refusal to sell gold, whether on the Dubai Stock Exchange or any other stock exchange, provided that the gold is minted, which will enable Sudan to provide free currencies to cover its needs for necessary goods as well as other needs.
Azmi explained that minting means issuing bonds and instruments equivalent to the value of the gold that is kept in a bank abroad or at home under the supervision of the Central Bank of Sudan.
Azmi confirmed that the procedures for establishing the Gold Exchange in Sudan were halted as a result of the current war, in addition to the halt of procedures for upgrading the gold refinery in Khartoum to gain accreditation, noting that the Gold Exchange had taken many measures to carry out its work, including modifying the electronic trading system in the Khartoum Stock Exchange so that it became capable of trading gold. In addition to providing a headquarters for the stock exchange, appointing a manager for the stock exchange project, and selecting experienced and knowledgeable employees for implementation.
He expressed his hope that Sudan would soon be able to continue this activity after the causes of its disruption cease, especially since it is facing the process of rebuilding the infrastructure that was destroyed by the war machine. He added, “Nations are built by the efforts of their men and the resources they possess.”
