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Sudanese Advisor To “Earth News”: The Speed Of Digital Cash Will Cover The Largest Number Of Transactions Electronically
02/26/2024
2484
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Earth News/The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Monday that the speed of digital cash will cover the largest number of transactions electronically.
Saleh stated to Earth News Agency, “The replacement of the digital payments system represents the state of progress occurring in payment systems in contemporary economic systems, which have begun to depart from cash (paper) payment systems, except within narrow limits related to small transactions.”
He added, “Accordingly, the reliance in settling buying and selling transactions and extinguishing large receivables is based on the rapid development of technology and digital payment and its uses, which is reflected in a decrease in growth in cash issuance and a decrease in the costs of cash management because the speed of circulation of digital cash will take a broader range in covering the largest number of transactions.” Electronically, with the lowest corresponding monetary units and without the need to use additional amounts of paper money.”
He continued: “This will gradually reduce the cost of issuing and managing cash for the benefit of digital money in circulation in clearing debts, making various payments, and settling mutual rights.”
[You must be registered and logged in to see this link.]
02/26/2024
2484
[You must be registered and logged in to see this link.]
Earth News/The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Monday that the speed of digital cash will cover the largest number of transactions electronically.
Saleh stated to Earth News Agency, “The replacement of the digital payments system represents the state of progress occurring in payment systems in contemporary economic systems, which have begun to depart from cash (paper) payment systems, except within narrow limits related to small transactions.”
He added, “Accordingly, the reliance in settling buying and selling transactions and extinguishing large receivables is based on the rapid development of technology and digital payment and its uses, which is reflected in a decrease in growth in cash issuance and a decrease in the costs of cash management because the speed of circulation of digital cash will take a broader range in covering the largest number of transactions.” Electronically, with the lowest corresponding monetary units and without the need to use additional amounts of paper money.”
He continued: “This will gradually reduce the cost of issuing and managing cash for the benefit of digital money in circulation in clearing debts, making various payments, and settling mutual rights.”
[You must be registered and logged in to see this link.]
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