Central Bank of Yemen rises minimum amount of the small finance banks' capital

NCIAHRV, JIAT discuss joint coordination, cooperation

The Chairman and members of the National Commission to Investigate Allegations of Human Rights Violations (NCIAHRV) discussed today in the interim capital of Aden with the Chairman and members of the Joint Incidents Assessment Team (JIAT) in Yemen ways to enhance cooperation and coordination between the two sides.

The victims toll of Israeli annihilation war on Gaza rises to 45,059 martyrs,107,041 injured

The mortalities toll of the Israeli occupation extermination warfare on the Gaza Strip since October 2023 has risen to 45,059 martyrs and 107,041 injured.

Canada's federal budget deficit rises to $61.9 billion

The Canadian government recorded a federal budget deficit of $61.9 billion during the fiscal year ending March 31, 2024.

Arabian Gulf Cup Football Federation announces kickoff of 26th tournament referees course

The Arabian Gulf Cup Football Federation announced the launch of the 26th Gulf Cup referees course at the referees' residence in the Kuwaiti capital, which is preparing for the tournament's kick-off on December 21.

Last Update: ، 2024/12/22 Time 06:07:59
Latest News:

Maj. Gen. al-Zubaidi, Ambassador of Djibouti discuss coordination of positions to secure international ..

Yemen condemns car-ramming attack in German city of Magdeburg

Yemen welcomes UN resolution on Israel's obligations regarding UN activities in Palestin

General al-Zubaidi Commends Kuwait's Support for Yemen

Leadership Council continues discussing developments in national affairs

Central Bank of Yemen rises minimum amount of the small finance banks' capital

[07/01/2024 04:36]

ADEN - SABA
The Central Bank of Yemen (CYB) issued a decree stipulates that the minimum amount of the capital of each small finance bank which is licensed to operate in the Republic of Yemen shall be increased up to15 billion Yemeni Rial (YR).

The decree, which is published on the CYB's website, stressed that the concerned banks shall get the minimum amount completed within two years starting from 2024 provided that each small finance bank must get 50% of the required capital completed each year starting from this year 2024 and the deadline to get the amount completed is December 31.2025.

Under the decree those banks which obtained initial license from the CYB to operate as small finances banks should get required 50% increase of the capital completed before granting the final license and should get the remain increase completed during 2025.

The decree gave the concerned licensed bank the right to use their reserves after a written approval in advance by the CBY in order to fulfill the required minimum amount, otherwise no bank can get or maintain the license if it doesn't meet the provision of the minimum amount of the paid capital.