Sudanese Banks Union: Currency Exchange Aims to End Dual Circulation Between Old and New Notes

Khartoum – Sudanhorizon

The Sudanese Banks Union said on Monday that the currency exchange process “aims to unify cash circulation and end the duality between the old and new currencies, in addition to expanding financial inclusion by bringing unbanked citizens into the formal banking system.

In a statement reviewed by Sudanhorizon, the union called on citizens in Khartoum, Al Jazirah, and White Nile states to expedite the currency exchange process and open bank accounts. It stressed that early completion of procedures serves as a “safety valve” to avoid the congestion witnessed in some areas during previous experiences, warning that waiting until the final days could cause avoidable difficulties.

The statement explained that the exchange process is carried out through opening a bank account and depositing funds, enabling citizens to benefit from banking services, including safeguarding money from risks, making instant transfers via banking applications, and facilitating access to financing.

It added that this step is part of a broader package of economic reforms aimed at combating inflation and promoting the transition to electronic payments, thereby facilitating commercial transactions and saving time and effort.

The union also warned that the old currency will lose its legal tender status after May 15, urging citizens to take this into account and complete the exchange procedures before the deadline expires.

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