Banking Expert Urges International Sukuk to Stabilize Sudanese Pound
Sudan Events – Rahab Abdullah
Banking and investment expert Ayman Ahmed has proposed issuing international partnership sukuk (Islamic bonds) to stabilize the Sudanese pound by backing it with untapped natural assets such as gold, oil, and gas.
He argued that Sudan’s current managed floating exchange rate system has failed to curb inflation or stabilize the currency, especially as the ongoing war has disrupted traditional monetary policy tools and weakened the state’s intervention capacity. Sudan’s untapped natural wealth, he said, represents a strategic opportunity to provide real backing for the pound while securing foreign reserves to cover import bills.
Ahmed’s proposal, submitted to the Ministry of Finance and the Central Bank of Sudan, calls for innovative financial instruments similar to global exchange-traded funds (ETFs). He suggested involving international investment banks to ensure transparency and attract investors.
“Given the ongoing depreciation of the pound and declining trust in the banking system, we propose a new framework to stabilize the exchange rate by linking the currency to certified natural asset-based instruments,” Ahmed said.
He emphasized that implementing the idea requires formal adoption but could help Sudan preserve its resources while creating sustainable reserves to stabilize the economy even in times of crisis.
