Central Bank announces implementation of the international system (IBAN)

Transport Minister discusses with Economic Advisor to UN Envoy economic situations, navigation traffic

The Minister of Transport Dr. Abdulsalam Humaid discussed today, Thursday, in the temporary capital Aden, with the Economic Advisor of the Office of the UN Envoy to Yemen Reddick Metzger and his accompanying delegation the economic and humanitarian situation, as well as the movement of air, sea and land transport.

Israeli Occupation Forces Arrest 4 Palestinians in Ramallah

Israeli occupation forces arrested four Palestinians in Ramallah province today, Thursday, after raiding their homes.

Oil declines amid concerns of possible oversupply

Oil prices fell today, Tuesday, as investors weigh the OPEC+ alliance's decision to suspend production increases during the first quarter of next year, amid ongoing concerns about a potential surplus in global supply.

Paris Saint-Germain defeats Nice, underpins their lead in French Ligue 1

Paris Saint-Germain strengthened its lead in the French Ligue 1, after defeating its guest Nice 1-0 in a match held as part of the eleventh round of the French Ligue 1.

Last Update: ، 2025/11/07 Time 08:39:04
Latest News:

Minister al-Soqatri discusses with FAO joint cooperation

Leadership Council Member Tariq Saleh meets with Syrian President

Presidential Leadership Council Member Tariq Saleh arrives in Brazil to join Climate Summit

Deputy Minister of Planning Discusses Food Insecurity and Malnutrition with UN Agencies

Vice FM Praises Germany's Political and Developmental Support

Central Bank announces implementation of the international system (IBAN)

[11/12/2024 05:59]

ADEN - SABA
The Central Bank of Yemen announced Wednesday the start of the actual implementation of the International Bank Account Number (IBAN) system.

This announcement came during an extensive meeting organized by the General Administration for Payment Systems at the bank, with the participation of representatives from commercial and Islamic banks operating in the republic.

During the meeting, the Deputy Governor of the Central Bank Dr. Mohammed Omar Banajeh highlighted the bank's interest in keeping up with global banking developments through support from the U.S. Agency for International Development (USAID).

He explained that the activation of the financial and banking performance system for Yemeni banks internationally aligns with the Central Bank of Yemen's plan and strategy to strengthen the financial inclusion program in Yemen, ensuring that banks operating in the Yemeni banking market comply with international financial and business standards, specifically ISO 13616.

Dr. Banajeh pointed out that the International Bank Account Number is characterized by the accuracy of banking transfers and the speed of execution at lower costs, which minimizes copying errors and avoids delays in executing electronic payments.