Sudan's financial landscape faces new turbulence as the Central Bank issues a stark warning against an unlicensed mobile money platform operating in conflict zones. 💸 The app called 'Al-Mustaqbal for Banking and Financial Services' has been flagged as illegal in RSF-controlled parts of South Darfur, sparking concerns about shadow banking systems emerging in war-torn regions.
📱 The bank's Wednesday statement emphasized that the app violates Sudan's 2014 Anti-Money Laundering Act, warning users they could lose funds with 'no legal recourse' if passwords get hacked or transactions go wrong. Analysts suggest this move highlights growing tensions between official institutions and paramilitary groups carving out economic territories.
⚠️ 'This isn't just about an app – it's a battle for financial control,' says Khartoum-based economist Amira Hassan. 'When armed groups create parallel banking systems, it destabilizes the entire national economy.' The warning comes as Sudan's currency continues to plummet, with inflation hitting 380% this month.
🌍 The bank urges citizens and businesses to avoid the platform, reminding them that only licensed financial institutions offer legal protection. With 63% of Sudanese relying on mobile money services amid cash shortages, this crackdown could significantly impact daily transactions in conflict zones.
