The CBY takes measures for alleviating pressure on currency markets, says Zimam

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The CBY takes measures for alleviating pressure on currency markets, says Zimam

[11/09/2018 01:51]

ADEN-SABA

Governor of the Central Bank of Yemen Mohammad Zimam has said the bank has taken a number of steps for alleviating pressures on currency markets and providing basic goods to citizens with low prices across Yemen.

In a release issued by the bank's media and banking culture center, Zimam added procedures of finalizing needed measures from concerned institutions in Saudi financial ministry for paying the second batch of the Saudi deposit for supplying the basic substances through a demand raised by the Yemeni trade banks worth more than 62 USD billion.

He pointed out that the bank has provided credits for the same basic goods offered by the commercial banks for sums lesser than USD 200 thousand supplied directly by the Central Bank of Yemen in coordination with the government.

He confirmed that the bank has taken necessary executive measures regarding the Ministers Council's decision No. 76 for 2018 authorizing the Yemeni commercial banks selling USD 2000 to departing citizen from Aden or Sayoon for the purpose of medication abroad and the bank will compensate the trade banks on those funds as soon as receiving their financial claims.

He made it clear that the economic crisis requires integration of government and social efforts, pointing out that a single body cannot face any possible economic collapse.