Central Bank of Sudan issued a measure on Sunday directed at limiting the ceiling for monthly cash withdrawals through credit cards to 20000 SDG (around $US 330).
The measure stated that “in accordance with arrangements of cash withdrawals from automatic teller machines (ATMs), it has been decided that the ceiling for monthly cash withdrawals by credit cards not to exceed 20000 SDG”. And Bank of Sudan instructed all banks “to immediately apply the necessary technical arrangements as to comply with this decision”.
Before the new measure credit cards would allow users to extract 60000 SDG on a monthly basis (around $US 1000).
Sudan endures a yearlong liquidity crisis as bank clients complain about their inability to withdraw cash while banks lament diminishing deposit as clients held back their cash because of withdrawal constraints imposed by banking authorities!
And according to recent statistics, Sudanese currency lost 80% of its purchase capacity during the present year amid a daily raise in prices and decline in Sudanese pound’s performance against foreign currencies.