Governor of Central Bank of Yemen Ends Consultative Meetings with IMF

[su_label type=”info”]SMA News – Al-Arabia Al-Yemenia – Exclusive [/su_label][su_spacer size=”10″] Dr. Mohamed Mansour Zemam, governor of Central Bank of Yemen, ended a series of consultative meetings with IMF with a meeting with technical support department of the fund that is diagnosing technical abilities of the central bank including main headquarters and other branches. The diagnosis aims to introduce a project for developing infrastructure and administrative processes of the central bank to keep up with modern banking advances., especially in the technological field that affected all banking services all over the world.
It is noteworthy that USA is a major supporter for improving the abilities of the Central Bank of Yemen, as seen in the warm meeting with Dr. Zemam in the US Ministry of Foreign Affairs. In addition, Saudi Arabia provided technical and monetary support for the bank that included a deposit of 2 billion US Dollars that helped the bank to launch its plans for assuming its legal and monitoring roles of the bank. Since the appointment of Dr, Zemam as governor for the Central Bank of Yemen, all sectors felt great relief since correct monetary decisions were taken that relatively stabilized the situation of Yemeni Riyal. The banking sector will witness more stability as bank refunds basic goods to decrease suffering of citizens all over Yemen.