Current Date:

Wednesday, 09 May 2018

President Declares War on Corruption, Measures to Control Foreign Exchange Market

Khartoum – President of the Republic, Field Marshal Omer Al Bashir announced the war on corruption, pointing out that the war is in its infancy and will not stop until it

achieves its objectives of stopping gold smuggling, speculating in currency and monopolizing of necessary commodities.
 Addressing the National Legislature here yesterday, Al Bashir pledged to apply the Illegal Wealth Act strictly to uncover the forbidden and suspicious money and money laundering, adding, "We will continue in our procedures to prosecute manipulators inside and outside the country until our economy is fully recovered”.
Al Bashir revealed the existence of networks of corruption that targeted the national economy by stealing the people's money, adding, "It was necessary for the intervention of  the President of the Republic by virtue of his constitutional responsibility for the macro-economy, which saw a direct targeting to destabilize the country “, saying that the government took a number of the measures to control the foreign exchange market by eliminating the parallel market inside and outside the country, revealing measures to prevent the smuggling of gold and the state's control of its marketing and export and follow-up its movement from mining sites and until its arrival to the Central  Bank of Sudan (CBOS).
On the abuses in the banking system, Al Bashir said that the situation of the banking system has been reviewed and punitive measures taken against the banks and companies that manipulated in the proceeds of the export, especially banks and companies where financial corruption has been detected and taken the required actions against it, pledging to continue the review and inspection and evaluation of private and public banks, top of which CBOS, adding "we will take structural reforms in it and we will continue our procedures and treatments to recover the money of the people looted and no one will escape punishment.