South Arabia

First comment from the Central Bank about sanctioned banks closing their branches in the liberated governorates

SMA NEWS – ADEN THE CAPITAL
The Central Bank at its headquarter in the capital Aden issued a statement regarding closing the sanctioned banks their branches in the liberated governorates, hereunder it is:
The Central Bank of Yemen condemns in the strongest terms the Houthi arbitrary practices against the national banking sector, especially commercial and Islamic banks, and microfinance banks, whose main departments are still in the occupied capital, Sana’a, and whose branches operate in the liberated governorates, and the militias’ use of all means of pressure, coercion, and blackmail to force them to close their branches and freeze their operations, bypassing all banking laws and customs. The bank stresses that this irresponsible behavior is revealing evidence of the extent of the Houthi militia’s encroachment on this vital, important sector and its insistence on tampering with it, on the one hand, and on the other hand, an indication of the inability of the managements of these banks to resist Houthi pressures and to exercise their banking duties in accordance with the laws regulating local and international banking work. In order to preserve the integrity of the banking sector and the rights and funds of citizens, which may expose these banks and their departments to strict legal measures by the Central Bank of Yemen.
While the Central Bank warns the criminal militias against continuing their absurd practices against national banks and forcing them to engage in practices that conflict with banking practices and the prevailing laws and customs regulating banking work to achieve empty displays and false heroics, it calls on them to stop those practices and violations that have harmed the Yemeni citizen, deprived him of his savings and investments, and complicated his means of livelihood. Its communication with the world is cut off by its terrorist practices and flagrant violations of laws and morals.
It also calls on the management of banks and their branches to adhere to banking controls, not to yield to pressure from militias, and to follow their instructions to avoid being subject to punitive measures.
The Central Bank would also like to reassure the public of customers and depositors in the branches of these banks in the liberated governorates that they are continuing to conduct their business, serve their customers, and fulfill their obligations as usual.

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