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Chairman of Presidential Council briefed on developments in banking and monetary situation

[13/07/2022 07:01]

Aden – Saba
His Excellency President Dr. Rashad Muhammad Al-Alimi, Chairman of the Presidential Leadership Council and member of the Council, Aidarous Al-Zubaidi, met today, Wednesday, with the Governor of the Central Bank of Yemen, Ahmed Ghaleb, to review the developments in the banking and monetary situation, and the measures taken to maintain market stability and strengthen the position of the national currency.

The Governor of the Central Bank gave a briefing on the financial and banking situation, the tools available for managing monetary policy, and achieving the required stability in the exchange markets, in a way that contributes to controlling inflation and its repercussions on the prices of basic goods and services.

Governor Ahmed Ghaleb also presented the results of consultations and contacts with the brothers in the Kingdom of Saudi Arabia, the United Arab Emirates and the Arab Monetary Fund, during which the bank met all requirements to absorb the deposit provided by the two brotherly countries amounting to two billion US dollars.

At the meeting, the Chairman of the Presidential Leadership Council praised the efforts made by the Central Bank of Yemen in terms of institutional reforms, stressing the importance of working with the principles of transparency and good governance in all banking operations. He also urged the leadership of the Central Bank to continue the effective supervisory role of the bank on the exchange markets and commercial and Islamic banks, and to supervise them to ensure the safety of their financial centers, enhance their role in the national economy, and restore the required confidence locally, regionally and internationally.