Central Bank of Sudan to change country's paper currency
Date
11/10/2024 4:18:41 AM
(MENAFN) The Central bank of Sudan announced on Saturday that it plans to change the country's paper currency, a move that comes amid the suspension of banking operations in around 70 percent of the nation. The bank revealed that it will soon issue a new thousand-pound banknote, providing details about its design, color scheme, and security features.
Despite the changes, commercial banks will continue to accept both thousand-pound and five-hundred-pound notes from citizens. These notes will be deposited into accounts and held by banks, allowing account holders to access their funds through various payment methods.
Additionally, the Central Bank emphasized that commercial banks would assist citizens without bank accounts by making it easier for them to open accounts. This would allow them to deposit their currency in the new denominations of one thousand pounds, five hundred pounds, and other smaller notes, enabling access to banking services, including electronic payments.
The bank also stated that it would announce at a later time when the current editions of the thousand-pound and five-hundred-pound notes would no longer be considered valid currency and would no longer be used for transactions.
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