Gabriel: Citizens’ Requirement to Open Bank Accounts Boosted Bank Deposits

Finance Minister Dr. Gabriel Ibrahim said that the Sudanese government’s issuance of new banknotes and the requirement for citizens to open bank accounts boosted bank deposits and supported the ongoing war efforts by the army. Some, however, argued that the decisions deprived the financial system of millions.

The minister stated that the initiative launched in December, referring to the currency exchange, had a clear goal: to render the money looted by the Rapid Support Forces worthless. However, he did not mention the amount of deposits that entered the banking system, according to Reuters.