Banking Association: Currency Exchange Paves the Way for a “Cashless Society”

The official spokesperson for the Sudanese Banking Association, Ahmed Abdel Rahman Al-Houri, confirmed that citizens could access cash through bank outlets with a daily limit of 200,000 pounds or via transfers through the “Siraj” system, account-to-account transfers within the same bank, or banking apps. He emphasized that the currency exchange initiative marks the beginning of a new financial phase for citizens, gradually transitioning to a cashless society.

In a press statement, Al-Houri noted that the public’s significant participation in the currency exchange process, despite minor inconveniences, reflects their awareness of the reasons behind the currency change and the expected short- and medium-term benefits. These include uncovering counterfeit currency, restricting organized looting operations, reducing inflation rates, stabilizing prices, and empowering citizens to open bank accounts and utilize modern banking technologies and electronic payment systems, minimizing the need to carry cash.

He further remarked that the public’s awareness combats “negative practices” and ensures they ignore rumors. Citizens will make the most of the remaining time for currency exchange, enduring minor inconveniences to fulfill their tasks. He added that this process will lead to a brighter future where the monetary supply returns to banks to be used in development and investment projects, paving the way for citizens to engage confidently in e-commerce within a healthier economic environment.