
A picture shows the Central Bank building in Port Sudan on July 23, 2023. (Photo: CFP)
The Central Bank of Sudan has warned against an unlicensed electronic financial application operating in South Darfur areas controlled by the Rapid Support Forces (RSF). Analysts described the move as an attempt to establish the foundations of a separate banking system within the territory held by the paramilitary group.
In a statement issued on Wednesday, the bank said the mobile money transfer platform "Al-Mustaqbal for Banking and Financial Services" is not licensed to operate in Sudan.
"The Central Bank of Sudan, as the sole authority authorised to issue licences for financial and banking activities under applicable laws and regulations, confirms that the entity in question is not licensed to operate in Sudan. Any dealings with it, therefore, constitute a violation of national laws and the Anti-Money Laundering and Counter-Terrorism Financing Act of 2014," the statement said.
The bank also warned of several risks associated with the application, including the lack of legal recourse in cases of lost or compromised passwords or access codes, and the absence of guarantees in the event of theft or loss of deposited or transferred funds.
It urged the public, as well as public and private institutions, not to engage with the application or any of its platforms, services, or transactions, either inside or outside Sudan.