Sudan Central Bank Bans Funding Free Accounts through Cash Deposits

Sudan Events – Follow-ups

The Central Bank of Sudan has issued a circular amending the regulations related to funding and using free accounts in foreign currency.
Under this circular, the Sudan Central Bank has prohibited the funding of free accounts in foreign currency through cash deposits.
The bank also prohibited the use of customers’ own resources (free foreign currency accounts) for importing goods.

This is part of the Sudan Central Bank’s policies to contain the ongoing depreciation of the Sudanese pound against foreign currencies by reducing demand for foreign currency in the parallel market.