Khartoum: The Sudanese Banks Union (SBU) has issued a public statement regarding the introduction of a new 1,000-pound banknote. Abbas Abdullah Abbas, the Chairman of the SBU, emphasized the union’s commitment to providing the necessary facilities for opening bank accounts and integrating banking applications to enhance access to electronic payment services for individuals currently without bank accounts.

According to Sudan News Agency, Abbas highlighted the significance of this initiative as an opportunity for unbanked individuals to establish accounts, which would facilitate their financial dealings, enable investment financing, and secure their savings. This move is also aimed at reducing the risk of financial loss and increasing efficiency in commercial and e-commerce transactions.

The SBU Chairman referenced a recent statement by the Central Bank of Sudan (CBoS) from the ninth of this month, which detailed the issuance of the new banknote, including the reasons for its introduction, its specifications,
security features, and guidelines for public usage. The goal is to ensure a seamless transition to the new currency denomination, protect the national currency, stabilize its exchange rate, and contribute to economic stability.

Abbas reassured the public of the readiness of Sudanese banks to safeguard public deposits and accommodate new customers amid the country’s challenging circumstances. He underscored the banks’ commitment to maintaining services in alignment with CBoS directives and playing an integral role in the country’s recovery and stabilization efforts following recent conflicts.