Taiz Security Committee discusses latest military developments
The Security Committee of Taiz held Sunday a meeting presided over by Deputy Governor Abdulqawi al-Mikhlafi and Chief of Staff of Taiz Military Pivot Major General Abdulaziz al-Majidi, discussing latest military and security developments in Taiz Governorate.
Zionist occupation’s aggression against Gaza leaves 37,551 martyrs and 85,911 injured.
The Israeli occupation's aggression against the Gaza Strip since the seventh of last October has left 37,551 civilian martyrs and 85,911 other civilians injured, the majority of whom are children and women, while thousands of victims are still under the rubble.
China: FDI reaches 57.94 billion yuan in five months
Foreign direct investment in actual use in China has reached 412.5 billion yuan (about 57.94 billion US dollars) in the first five months of the current year 2024.
Scotland, Switzerland draw 1-1 in Group A of Euro 2024
The Scottish national team and its Swiss counterpart drew 1-1 in the match that brought them together at the Rheinenergy Stadion, within Group A of Euro 2024, currently being held in Germany.
User Name: Password:
Yemen central bank discloses ruinous Houthi practices against the country's banking sector
[07/05/2024 05:51]

Yemen's central bank has disclosed a series of arbitrary and ruinous measures practiced the Houthi militia controlling the capital Sana'a is practicing against the country's banking sector, which compelled the legitimate central bank in Aden to take a package of protective measures for the banking system and maintain monetary stability, the last of which was obliging the operation centers of commercial and Islamic banks to relocate to the temporary capital, Aden.

The central bank said that the Houthi coupist militia has - since the Central Bank moved from Sana'a to Aden in mid-2016 - sought to ruin the banking and financial sector and wreak havoc to it, exploiting the stay of the main banking centers Sana'a, which is under Houthi forceful control.

The central bank enumerated several Houthi approaches and schemes to seize the capabilities of banks and financial institutions, harness them to serve the militia's absurd activities and wars, and harm the overall economic and financial situation of the country.

According to the central bank, the Houthi practices include complicating the operation setting of banks and financial institutions present in various parts of Yemen, and restricting banking activities, by seeking to divide the economy and prevent the circulation of new editions of the legal denominations of the national currency, and obstructing the movement of cash and financial transactions between the various regions within the country.

The bank said in a reference report that, from December 2019 onwards, the Houthi militia banned the circulation of new editions of the national currency, and carried out repeated raids to plunder and confiscate the legal banknotes from the headquarters of banks, financial institutions and commercial companies in the city of Sana'a and areas under the militia's control.

It said Houthi checkpoints also confiscate these banknotes from passengers travelling between governorates, under the pretext of destroying the new edition of the currency and criminalizing its possession. However, they then they use that looted money in foreign currencies and speculate on exchange rates in the government-controlled parts of the country.

The central bank said the Houthi malpractices fall within the ruinous practices against the national economy and the opportunities for monetary and financial stability, and help in undermining confidence in the national currency, consequently causing a rise in the costs of goods and services, and causing individuals and the commercial sector to suffer huge losses in the value of their incomes and savings, in addition to harming productive, commercial and investment activities in the country.

Maj. Gen. al-Zubaidi receives Saada dignitaries, stresses importance of preparing for the coming period
UNESCO approves five projects to support journalism in Yemen
Civilian injured by Houthi Militia's artillery shelling South of Hodeidah
Ambassador al-Maytami, Chinese official discuss areas of bilateral cooperation and issues of common interest
President al-Alimi leaves Aden for special holiday
Al-Eryani denounces targeting civil, military leaderships of Taiz by Houthi terrorist militia
President directs transporting injured soldiers abroad for treatment
Leadership Council member Tariq Saleh observes Eid prayers with the masses in Khowkha
Al-Arada performs Eid al-Adha prayers with the masses, receives well-wishers
President al-Alimi, Member Aidrus al-Zubaidi perform Eid Prayer in Aden

About Saba News Agency | Usage Agreement | Contact Us