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CBY works on electronic system to follow letters of credits
[23/06/2019 01:53]


ADEN-SABA
Governor of the Central Bank of Yemen (CBY) Hafez Meayad said " The CBY currently was working on establishing an electronic system to directly follow the movement of the transactions of letters of credits by the commercial bank or the client".

Meayad statement came as he chaired periodic meeting included the CBY, commercial and Islamic banks. The session aimed to discuss banking action to activate trade through opening letters of credits to import basic commodities and invigorate monetary cycle.

Meayad stated that the CBY is interested in offering every necessary support for the banks to help them managing challenges they are facing.



President al-Alimi directs doubling precautionary measures to follow up low-pressure impacts in eastern provinces
One person died, damages in agricultural lands, roads, electricity, water supplies in Hadramout due to heavy rainfalls
FM holds phone conversation with British Minister of State over developments in Yemen
PM inaugurates local authority administration compound in Lahj governorate
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PM conducts field visit to Lahj Province
Leadership Council chairman phone calls Sheikh Saatar to check on him after surviving terror bombing
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Government reiterates its support for all regional, international efforts to establish peace
PM visits Public Electricity Corporation to follow up on power shortages and prompt solutions

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