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Central Bank discusses establishing fast payment company

[10/07/2025 06:22]

ADEN - SABA
Governor of the Central Bank of Yemen Ahmed Ghaleb, discussed in a meeting for the bank on Thursday several measures related to banking operations in Yemen.

The meeting, which included representatives from banks, addressed the establishment of a Fast Payment Company aimed at enhancing the role of banking in executing financial transactions.

This initiative is expected to accelerate and facilitate banking operations and is considered a fundamental requirement for implementing a digital payments and settlements system within the Yemeni banking system, with support from the World Bank.

The meeting also discussed the restructuring of the Unified Network Company, increasing its capital, and ensuring banks receive a larger share of their stake.

The management of the network is to be handed over to banks, with an expansion of its functions and operational scope.

The discussions included enhancing compliance measures for banks and exchange companies to facilitate international transactions between Yemen and the international community, especially in light of the designation of the Houthi militias as a global terrorist organization by the United States and other countries.