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Sudan’s forex dealers face arrest warrants

December 5 - 2017 KHARTOUM
Sudanese money exchange office (file photo)
Sudanese money exchange office (file photo)

Sudanese foreign currency dealers working abroad face arrest complaints issued by the Ministry of Interior, in its campaign to control foreign exchange activities on the parallel market.

Minister of Interior Hamid Manan reported his ministry filed 37 complaints against foreign currency traders and dealers outside of Sudan. They have conducted acts of sabotage of the national economy by dealing with foreign exchange, money laundering and financing terrorism, the press statement yesterday read.

The presidential committee which is tasked with controlling the Sudanese pound rate, held a third meeting to discuss the exchange rate control measures and the arrest warrants that have been issued against dealers and traders of currency outside Sudan. More information will be announced after their arrest, Manan said.

In addition the Central Bank of Sudan has been directed to seize their accounts. If the suspects do not appear in Sudan, Manan claimed that they will be arrested by Interpol (the International Criminal Police Organisation) in accordance with international cooperation to hand over fugitives and wanted criminals.

In November, a number of currency traders fled abroad, specifically to Ethiopia and the Gulf countries, to avoid arrest in Sudan. Following an unprecedented drop of the Sudanese pound value, presidential directives raised the penalty for trading in currency to 10-years’ imprisonment from three years, and the confiscation of money. The new charges of ‘sabotaging of the national economy, money laundering and financing terrorism’ are punishable by death or life imprisonment.

The price of the US dollar has increased on the black market in Khartoum on Monday, settling at 26 Sudanese pounds.

Crop trades

Minister of Trade Hatim El Sir said that a major campaign is being organised in the coming days, that will see a hunt down on foreign traders who are buying crops from Sudan. The minister warned people against dealing with the foreigners without official documents to buy or sell crops.

There is “tampering in the commercial records of foreigners”, El Sir said, which the ministry of trade is attempting to control by keeping track of the records of exporters and importers.


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