Currency Replacement: Completion of Security and Technical Arrangements
Sudan Events – Agencies
The Supreme Committee for Currency Replacement, chaired by Sovereign Council member Lieutenant General Ibrahim Jaber, has announced that the currency replacement process will begin on December 10, 2024, in several states of Sudan and will last for two weeks.
Minister of Culture and Information and government spokesperson, Khalid Al-Issa, stated in a press statement that the committee has confirmed the completion of all technical and security arrangements for the currency replacement process, which will start on December 10 and continue until December 23 in the Red Sea, Kassala, Gedaref, Nile River, Northern, and Blue Nile states.
Protecting the Economy: Al-Issa pointed out that this important decision serves Sudan’s interests, protects the national economy, and combats criminal activities that occurred during the previous period. He explained that the replacement will be done through bank deposits into accounts, urging citizens to open bank accounts at nearby branches. He also noted that banks will facilitate the procedures and requirements for opening accounts and receiving customer deposits with ease.
Al-Issa encouraged citizens to use available electronic payment methods, such as applications, and clarified that the daily cash withdrawal limit will be 200,000 Sudanese pounds per customer, with unlimited use of electronic payment methods.
The Minister also explained that financial transfers between accounts or electronic transactions via e-payment methods will be conducted in accordance with the regulations set by the Central Bank of Sudan. Transfers between accounts through bank outlets will have no limit, and citizens can transfer any amount from one account to another.
Upcoming Decisions: Al-Issa revealed that the Central Bank of Sudan will issue mandatory decisions for all public and private institutions to accept electronic payments. He urged citizens to engage with the currency replacement process as it is an important national initiative essential for safeguarding the country’s national security.
Changing Two Denominations: On Sunday, the Operations and Follow-up Room for Currency Replacement at the Central Bank of Sudan issued a directive regarding the replacement of the 1,000 and 500-pound denominations through deposits in bank accounts. The replacement process will take place from December 10, 2024, to December 23, 2024.
Targeted States: The Operations and Follow-up Room for Currency Replacement announced that six states would be targeted for the replacement process: Red Sea, Kassala, Gedaref, Nile River, Northern, and Blue Nile states. The Central Bank has instructed branches of banks in the targeted states to accept cash deposits of the withdrawn denominations during the specified period, extend working hours, and operate during official holidays in coordination with the Central Bank branches and security forces in the relevant states to facilitate the replacement process.
The Operations and Follow-up Room for Currency Replacement also instructed bank branches in states not targeted for replacement to refrain from accepting any cash deposits of the withdrawn denominations as of this date.
In this context, the Operations and Follow-up Room instructed all bank branches across the country to deposit any withdrawn denominations into Central Bank branches starting December 10, 2024, and to withdraw from their current accounts at the Central Bank to replenish their cash reserves as needed, while adhering to the set cash withdrawal limits for customers and limits on transfers via banking applications according to the regulations issued by the Central Bank.
Public Prosecution’s Involvement: In related news, the head of the Public Prosecution, the representative of the Attorney General, and the head of the federal delegation for the currency replacement committee, Justice Amir Mohamed Ibrahim, met with the governor of the Blue Nile region and the commander of the Fourth Division in the Blue Nile. During the meeting, he provided an overview of the role of the Public Prosecution in the currency replacement phase, confirming the readiness of the Public Prosecution to actively participate in this stage through its membership in the higher committees and follow-up committees related to the replacement process.
He also conducted an inspection tour of the Public Prosecution buildings in the Blue Nile state and reviewed the preparedness of the prosecution staff to address any crimes that may accompany the currency replacement process.
