Sudan issues emergency ban on national currency storage

Sudanese President Omar al-Bashir on Thursday issued an emergency order banning storage of and speculation in the national currency.

"The order is prohibiting speculation in the national currency with the purpose of harming the national economy or storing it outside the banking system for purposes of speculation," said a statement by the Sudanese presidency.

The order banned possession or storage of the national currency exceeding 1 million Sudanese pounds for individuals and 5 million pounds for corporate entities, it noted.

Violators, according to the statement, would be imprisoned for a period between six months and 10 years, in addition to payment of a fine and confiscation of the money.

On Feb. 22, al-Bashir declared a state of emergency all over Sudan for one year after mass protests erupted in December last year over deteriorating economic conditions and price hikes of basic commodities.