Sudanese in Cairo Complain of Liquidity Crisis and Suspension of “Bankak” Transfers

Sudan Events – Nahid Oshi

Currency transfer offices through the “Bankak” application in Cairo stopped their cash transactions for the second day in a row due to the significant deterioration in the value of the Sudanese pound against the Egyptian pound, which rose to 34.8 pounds, in addition to the Bank of Khartoum’s move to raise the price of transfers to 100 pounds through Bankak and add a stamp worth 10 pounds.
Remittance shops and offices in the Egyptian city of Faisal (where the Sudanese presence is dense) witnessed overcrowding with people requesting transfers through the Bankak application, amid protests over these stores stopping dealing with the application and the lack of cash liquidity.
The Sudanese complained about the cessation of financial transactions at this time, and said that the liquidity crisis coincided with the deadline for paying monthly rents and the increased need for cash to meet the costs of expenses such as electricity and water fees, apartment rents, and service fees, in addition to the daily costs of living.
Amira Al-Faki, a resident of Cairo, said that economic conditions have become dire and prices are rising with every new morning in light of the decline in job opportunities, and if there is an opportunity, the wage is not sufficient for living requirements and rents that doubled after the outbreak of war in Sudan. In her interview with Sudan Event, she pointed out the deterioration of financial conditions due to the cessation of house rental income in Sudan after the war. She said, “I have a house in Khartoum and I relied on rental income to pay the rent for the apartment in Faisal, and whatever surplus of it I used to cover the costs of living, and after the outbreak of the war, we became without a source of income. All efforts to create job opportunities also failed, and the Sudanese government called on the Sudanese government to take into account the problems of Sudanese abroad.