Currency crisis in Sudan… The Central Bank wants to overthrow the regime ✍️ Al-Zein Kandowa
Circular Letter No. (1 of 2024) issued by the General Administration of Payment Systems of the Central Bank of Sudan, dated Tuesday, May 21, 2024, and signed by the employee of the Central Bank of Sudan, Awadallah Abdullah Ahmed, and also the employee of the Central Bank of Sudan, Mr. Ibrahim Hassan Ali, the imam, which is related to the services of cash withdrawal and transfer through banking applications, and which is distributed to all banks, I think it is an unsuccessful decision. , and not at all thoughtful, and perhaps the one who looks at it with a deep look will be drawn by (imagination) and doubt about how it was carried out, and will ask himself a logical question: is it a decision when the circular? was issued, there was (good faith) in it ??? The legitimacy of the doubt comes from the fact that he did not think deeply about the nature of the economic movement of the Sudanese trader and citizen, nor about his behavior in the circulation of money in times of crisis.
Rather, I believe that this decision or circular addressed to all banks did not even take into account the situation in Sudan, the repercussions of the ongoing war and its results, and who is behind it? What does he want from Sudan? What are the alternative means that can be used to break the bones of the Sudanese state if the defenders fail to resolve the fighting? And when? Indeed, if this circular continues beyond this limit, and no brake is put on it, it will immediately contribute to the collapse of the banking system and the entire economic structure in Sudan. I do not exclude that whoever conceived the idea. this circular on banks, and everything that was said in it, was unaware of its side effects on banks and the commercial movement in the states in general, because now all or some states are experiencing a serious liquidity and money crisis. has even become a commodity traded for profit, which can give rise to financial gangs with links to the militia.
In my opinion, this circular is very flawed and should be viewed from a purely security, intelligence, and then political perspective. Why was this circular issued a year after the war? With all these flaws? One of its flaws is the size of all banks, such that no person receives more than three million Sudanese pounds per day, regardless of their balance, business activity, and economic and social situation. This condition made traders reluctant to deposit their sums in banks, and at the same time the circular (implicitly) allowed to transfer through the Bank of Khartoum through the (Bankk) system an amount of fifteen million pounds per day, and this item implicitly includes the generalization about all banks in Sudan after losing their banking applications due to the war, what windows were obtained for the Bank of Khartoum, and of course the Bank of Khartoum works with Emirati technologies, so the (Bankk) service is not stopped. the most popular application.
_ In any case, I note that the Central Bank of Sudan, in accordance with its circular issued by the General Administration of Payment Systems dated (May 21, 2024) and in force from the date of issue and signature until further notice, which stated: As part of the review and organization of the cash withdrawal service in Windows Banks, and personal transfer services via banking applications (p2p), it has been decided as follows:_
1/ The maximum limit for cash withdrawals from bank bureaux de change should be three million pounds sterling per day for all categories of customers.
2/ The maximum limit for spending through ATMs is (50,000) fifty thousand pounds per day.
3/ The maximum limit for personal transfers via banking applications (P2P) is (fifteen million pounds per day) on all banking applications.
This will provide the Sudanese state with a source of destruction, and with this we can say: the monetary crisis caused by the Central Bank of Sudan wants to bring down the regime unless it takes urgent banking measures in terms of professional and banking performance, because the circular has caused serious damage to the Sudanese economy, and this reckless act requires an investigation. Urgent: with those who ordered the publication of the decision, to circulate and sign it, and to reveal the results of the investigation to the Sudanese public. Notice.
May you always be well,,,,
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