Sudan’s monetary system fractures as war deepens economic fragmentation, report finds

What happened

Radio Dabanga reports on a recent Sudan Transparency and Policy Tracker (STPT) study by Suliman Baldo that highlights a pronounced division in Sudan’s monetary system driven by the ongoing civil war. The report shows how the war has not only divided territory but also fractured the country’s financial infrastructure, with an emergent RSF-aligned bank and digital payment system operating separately from the government-backed Sudanese Armed Forces (SAF) areas.

Outside Brief is treating this as a source-led account. Any disputed responsibility, casualty figure or battlefield claim should be read as unconfirmed/hearsay unless confirmed by another reliable source. According to the report, acute cash shortages and the collapse of traditional banking have pushed RSF-controlled regions to adopt alternative monetary tools such as the El Mustaqbal ‘Future’ Bank and its associated Future Money Service application. These areas rely on disputed older Sudanese Pound notes and cross-border currencies, reflecting both a practical response to scarcity and an institutional rupture from the central financial authority.

The Sudanese official central bank, meanwhile, issued redesigned banknotes that are largely inaccessible in RSF-held territories due to currency exchange restrictions and bank account limits, prompting the RSF to validate older notes within their areas. This has resulted in economic stagnation, with reports of frozen bank accounts and increased costs for cash transfers, exacerbating hardships for civilians and traders, especially in conflict-affected zones such as Darfur.

Known from the source

• Sudan’s civil war has caused a division not only of territory but also of its monetary system.
• The RSF-aligned El Mustaqbal ‘Future’ Bank and its digital payment app operate primarily in RSF-controlled areas.
• Sudan’s official central bank introduced redesigned currency notes with restricted exchange limited to SAF-held areas.
• RSF-controlled areas have declared older Sudanese Pound notes legal tender.
• Bank accounts linked to Sudanese bank transfer applications have reportedly been frozen or inaccessible in RSF-controlled areas.

What remains unclear

STPT’s analysis portrays this monetary fragmentation as symptomatic of Sudan’s broader state disintegration, where competing authorities assert control through financial legitimacy. While alternative monetary systems may temporarily relieve liquidity constraints and facilitate trade, they risk entrenching a wartime economy dominated by armed groups, informal taxation, and opaque commercial interests.

What remains unclear: The scale and specific economic impact of frozen bank accounts linked to the bank transfer application 'Bankak'. Extent to which the RSF’s validation of older banknotes mitigates or changes monetary conditions on the ground. Verification of reported increased transfer costs of 30% and its operational scope. Humanitarian consequences directly attributable to monetary fragmentation and banking dysfunction in RSF areas.

Evidence note

Outside Brief has kept this brief source-led and attributed. Claims should be read alongside the original source linked below.

Original source: Radio Dabanga. Open the source.