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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Yemen's Central Bank: Decision to Stop Dealing with Banks Aims to Save Remaining Financial Assets


Fri 31 May 2024 | 09:55 PM
Taarek Refaat

The Governor of the Central Bank of Yemen Ahmed Ahmed Ghaleb, confirmed that his decision to stop dealing with some banks is a sovereign decision of a monetary and banking nature and has no links to any local, regional or international events or entities.

Ghalib said - in a press conference held today, Friday, at the bank’s main headquarters in the temporary capital, Aden, according to the Yemeni news agency, “Sabanet” - that these banks submitted to pressure from a group classified as terrorist and failed to reconcile their situation during the deadline given to them to move their headquarters to the temporary capital. Aden,

Reassuring depositors in these banks that their work continues to serve the public in the liberated areas and that the Central Bank is a guarantor of their money.

He pointed out that these banks did not commit any money laundering or terrorist financing crimes, otherwise they would have been stopped and closed permanently.

He added that the Houthi militias sought to destroy the banking and financial sector and cause severe damage to it, taking advantage of the presence of most of the main banking centers in the city of Sanaa, which is under their control, through several forms of practices and methods aimed at seizing the capabilities of banks and financial institutions in the areas under their control and harnessing them to serve their absurd activities and wars and harming the economic and financial situation of Yemen in general.

The bank governor stressed that any action taken or will be taken by the Central Bank comes within the framework of an attempt to save these banks, protect what remains of their assets, and preserve their relationships and dealings with their surroundings and the world.

In this context, the Yemeni Presidential Leadership Council affirmed, in an extraordinary meeting today, its full support for the decisions of the Central Bank of Yemen, and its measures and policies aimed at protecting the banking system, ending monetary distortions, controlling inflation and the national currency, adopting governance principles, and strengthening supervision over banks.