Central Bank holds meeting to publicize consolidated funds network in Aden the capital
SMA NEWS – ADEN THE CAPITAL
Within the framework of the Central Bank’s efforts and procedures aimed at correcting and unifying remittance networks and its contribution to reducing illegal currency speculation and addressing price distortions of the national currency and the large differences in the value of cash transfers between liberated and un-liberated governorates, the Central Bank, on Tuesday, held in its main center in the capital, Aden, the founding meeting of the consolidated funds network.
The Central Bank in Aden the capital aims at establishing the Unified Network for Funds Company, which includes about 47 founders from the owners of exchange companies in Aden the capital and the rest of the liberated governorates.
The sources indicated that this procedure will organize financial transfers through a single network that is under the supervision, follow-up and control of the Central Bank, and will also contribute to preventing speculation in the local currency.
