Long Customer Queues Form in Sudan as Liquidity Crunch Worsens

Anti-government protests in Khartoum, Sudan December 25, 2018. REUTERS/Mohamed Nureldin Abdallah/File Photo
Anti-government protests in Khartoum, Sudan December 25, 2018. REUTERS/Mohamed Nureldin Abdallah/File Photo
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Long Customer Queues Form in Sudan as Liquidity Crunch Worsens

Anti-government protests in Khartoum, Sudan December 25, 2018. REUTERS/Mohamed Nureldin Abdallah/File Photo
Anti-government protests in Khartoum, Sudan December 25, 2018. REUTERS/Mohamed Nureldin Abdallah/File Photo

At a time Sudan’s future remains clouded with rapid political development, economic suffering and a liquidity squeeze returned to the scene with long ques building up in front of banks, bakeries and gas stations.

Visiting neighborhoods in Khartoum’s Omdurman city, an Asharq Al-Awsat correspondent discovered that people were rushing to stock on living essentials and cash.

Local banks, suffering from a cash crunch, are sticking to around a $40 withdrawal daily limit per person.

For traders, matters have been getting increasingly worse, with banks putting chequebooks and money transfers between local commercial banks on ice.

Referring to political instability, Khartoum-based financial consultant Hisham Alhaj said that the economic performance is directly linked to state institutions.

“Economic recession has not only affected the state, but also public and private sector workers,” Alhaj noted.

It is worth noting that the liquidity squeeze ailing the African state for over a year now is caused by a great drop in consumer confidence, especially in the country’s banking sector.

Well-off companies and individuals, fearful of poor management, corruption and bankruptcy, have chosen to hoard banknotes and not deal with Sudanese banks.



Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024
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Saudi Mining Licenses Reach 2,401 by End of 2024

Saudi Mining Licenses Reach 2,401 by End of 2024

The Saudi Ministry of Industry and Mineral Resources announced on Sunday that the number of valid mining licenses in the Kingdom has reached 2,401 by the end of 2024.

The licenses cover various categories, including mining, exploration, reconnaissance, building materials quarries, and small mine operations.

According to the 2024 Mining Sector Indicators Bulletin, issued by the National Industrial and Mining Information Center, the majority of these licenses were granted for building materials quarries (1,481), followed by exploration (642), mining and small mining exploitation (215), reconnaissance (41), and surplus mineral ore extraction (22).

The bulletin serves as a critical tool for monitoring developments in the mining sector, tracking both existing and newly issued licenses across various regions of the Kingdom. By boosting transparency and providing accurate data, the initiative supports investors and decision-makers in making informed choices that contribute to the sector’s growth and sustainability.