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Sudan targets currency traders

Publish date: 11 December 2017
Issue Number: 755
Diary: IBA Legalbrief Africa
Category: Governance

The Central Bank of Sudan has ordered banks to freeze the assets of several companies and individuals for allegedly trading currencies against the bank's instructions. A report on the allAfrica site notes that the list of persons with frozen stocks includes traders who live abroad. The bank was directed to seize the accounts by the presidential committee which is tasked with controlling the tumbling Sudanese currency. The government has raised the penalty for trading in currency to 10 years' imprisonment.

Full report on the allAfrica site

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