Editorial: Tip of the Iceberg

The Sudanese authorities have announced the launch of a large-scale campaign against those who are involved in the national currency or are storing them outside the banking system, in an effort to ease the liquidity crisis in the country.
To this end, it has assigned specialized teams in the Economic Security Authority to play its role in enforcing Emergency Order No. 6, including inspections and prosecution of speculators in the national currency or its stockholders outside the banking system.
According to an official source in the Economic Security Authority, the economic security apparatus is fully prepared to prosecute and control those involved in harming the national economy, where they will be brought to justice under emergency orders in force in the country.
In the same vein, an emergency order prohibits any legal person from storing or possessing a national currency that is not commensurate with the size of its activity, up to a maximum of five million Sudanese pounds (US$105,000).
The order provided for the punishment of any person who violates this by imprisonment for a term not less than six months and not more than ten years, as well as a fine, confiscation of funds, storage places and any means used to commit the offense.
Since the enforcement of the Emergency Order No. (6) the NISS elements assigned for the mission managed to achieve considerable success, such as arresting several currency dealers for their violating article 157 of dealing with currency outside the banking system and brought them to the concerned emergency courts.
The judicial ruling included 5 years imprisonment besides confiscating vehicles and the seized; the huge amounts of hard currencies along with millions of Sudanese pounds.
The NISS beatings will continue until morale improves and the violators stop their illegal activities which resulted to the present cash flow crisis and the lack of liquidity in the banking system.
What is done up to this moment represents the tip of the iceberg and if the NISS continue the ongoing tireless endevours, we believe that it would contribute largely in bringing about control and allow the banks perform their normal dealing smoothly.
We wish every success to the concerned NISS personnel in their noble mission.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *