The Central Bank reveals the banks that have decided to move their headquarters to Aden to avoid US sanctions

SMA NEWS – ADEN THE CAPITAL
The Central Bank of Yemen in the capital, Aden, published a list of the banks that have officially notified it of their decision to move their headquarters and operations from Sana’a to Aden. This move aims to evade US sanctions imposed on entities dealing with the Houthi militia, designated as an international terrorist group.

List of banks that have relocated their headquarters to Aden:

1. Tadhamon Bank

2. Al-Kuraimi Islamic Microfinance Bank

3. Yemen Bahrain Shamil Bank

4. Yemen Islamic Bank for Finance and Investment

5. Saba Islamic Bank

6. Yemen Gulf Bank

7. Yemen Commercial Bank

8. Al-Amal Microfinance Bank

The Central Bank confirmed in a previous statement that this move comes in response to its previous warnings, as the majority of banks headquartered in Sana’a had announced their decision to relocate to Aden to avoid legal repercussions and strict sanctions imposed by the United States.

The Central Bank welcomed this move, affirming its readiness to provide the necessary support and protection to ensure the continued operation of banks and financial and economic institutions, ensuring the continued provision of financial services to citizens inside and outside Yemen.

The bank also emphasized its commitment to coordinating with international and regional financial and relief institutions to ensure the stability of the country’s banking sector. It called on all banks and financial institutions to deal with these changes responsibly to avoid any negative repercussions on the national economy and banking sector. The Central Bank confirmed that it will fully monitor the implementation of the transfer operations and issue official certificates. It warned against complacency regarding these developments, given the significant risks they may pose to the banking system and the national economy.