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Central Bank Governor discusses with bankers stability of Riyal

[14/04/2018 03:46]

ADEN-SABA
Governor of the Central Bank of Yemen Mohammad Zimam discussed with representatives of exchanging companies and licensed shops a number of issues related to keeping the price of the local currency stable.

The meeting dealt with coordination between the bank and the exchange companies and providing information by these companies to the bank for controlling the market and providing facilitations and solving all problems facing exchange process.

The two parties agreed on formation a committee under the Central Bank to be tasked with holding monthly meetings for defining the price of the USD and agreed on setting up a unified system includes a number of conditions for organizing the work between exchangers and the bank.

"The companies and exchange centers are helping factor to the central bank; a matter requires integration of all efforts and teamwork …. to realize the stability of exchange sector and overcoming obstacles facing the market," said Zimam.

He added that the bank takes necessary measures for fighting money laundering and financing terrorism for protecting economic system, as well as boosting market with local currency and providing cash to banks.

He added that all these measures aim at limiting negative effects of the increasing prices of foreign currency and playing with goods prices.

He stressed that the Central Bank will take firm measures against violators.