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2025/12/10
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05:54:40
Latest News:
Member of Presidential Leadership Council al-Arada Holds Expanded Official, Public Meeting in Marib
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Latest News:
Member of Presidential Leadership Council al-Arada Holds Expanded Official, Public Meeting in Marib
Vice Foreign Minister participates in International Navigation Security Conference in Germany
European Union Mission affirms support to PLC, Government for security
Al-Mahrami Meets Head of Land Authority, Reviews Performance Improvement Plans and Combating Encroachments
UK reaffirms its commitment to supporting Presidential Leadership Council and government
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.
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.
Key words:
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Saudi Delegation Meets with Sheikhs, Notables, Leaders of Hadhramaut
Member of Presidential Leadership Council al-Arada Holds Expanded Official, Public Meeting in Marib
Vice Foreign Minister participates in International Navigation Security Conference in Germany
European Union Mission affirms support to PLC, Government for security
Al-Mahrami Meets Head of Land Authority, Reviews Performance Improvement Plans and Combating Encroachments
UK reaffirms its commitment to supporting Presidential Leadership Council and government
Vice Foreign Minister praises Germany's support for Yemen
U.S. affirms its support for Leadership Council, government, Yemen's security, stability
President al-Alimi briefs Ambassadors of the countries sponsoring the political process on developments in the eastern governorates
Leadership Council Member al-Muhrrami, Governor of Central Bank address monetary stability efforts 
