Sudan Events – Rahab Abdullah
The Minister of Finance and Economic Planning, Dr. Jibril Ibrahim, confirmed the country’s readiness to replace the currency, stating that the process will be conducted with complete confidentiality. He also confirmed that agreements have been reached with security agencies and states to ensure the smooth replacement process.
The minister revealed in a radio conference on Friday that all necessary preparations for the currency replacement have been made, noting that this is not an easy process, as it requires ensuring security. Additionally, there is a concern about looted money and the presence of counterfeit currency. He added that the purpose of the currency replacement is to eliminate these issues. The minister also mentioned that there are special devices to detect counterfeit currency. Moreover, the goal is to attract the large cash reserves outside the banking system into the banking sector. He emphasized that another aim is to promote electronic payments to reduce reliance on cash, which entails the costs of printing, storage, and destruction of damaged currency. He noted that they have asked the central bank to direct banks to facilitate the opening of bank accounts to enable citizens to make electronic payments in line with global trends.
