The National Telecommunications Corporation in Sudan is to impose restrictions on domestic mobile money transactions, Middle East Monitor reported.
In an attempt to improve the regulatory and competition body’s ability to audit and trace transfers within the country, it plans to limit the value of some mobile transactions to SDG500 ($75).
Limits will apply to retail payments and mobile-to-mobile transfers between friends and family. Funds moved directly between accounts using a bank’s mobile service will be unaffected.
Mobile money services in the country are offered by a range of vendors including the country’s two largest telecoms operators, Zain and MTN, and retail banks.
According to the news publication the regulator’s measures are also designed to encourage individuals to open mainstream bank accounts.
The move was announced as a top Sudan banking executive warned authorities must tighten rules and restrictions on the country’s mobile money transfer services.
Middle East Monitor quoted executive director of Banking Services Company Omar Hassan Al-Omerabi, who said the lack of control over mobile money transfer services in the country could be aiding the financing of terrorism.