Large penalties against black market traders in Sudan
The Sudanese Cabinet has approved the draft of a new bill in an attempt to eliminate the black forex market and the illegal gold trade in the country.
The law, adopted last week, stipulates major penalties on currency traders and gold smugglers.
The acting spokesman for the Cabinet, Osman Hussein, said in a press conference on Thursday that “the draft bill intends to seriously criminalise the illegal exchange of foreign currency and gold”.
He said that penalties for offenders include “imprisonment for a period of maximum ten years, large fines, and confiscation of the building in which the crime was committed”.
Late last year, the Sudanese government announced new measures against money laundering and “actions that would sabotage the national economy”.
“Strict legal measures will be taken by specialised prosecutors in dealing with illicit foreign currency exchanges, and the smuggling of subsidised goods, gold, and export commodities,” the Minister of Finance told the press in Khartoum on November 20.
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