[06/02/2023 12:25]
Mukalla – Saba
Deputy Governor of the Central Bank, Dr. Muhammad Banajah, stressed the importance of establishing microfinance banks that specialize in financing small projects whose owners are often young people and the most numerous groups of the labor force.
"The Central Bank of Yemen has recently granted licenses to 6 banks, some of which are existing and carrying out their activities, and some that are under opening," Banaja said at the inauguration ceremony of Al-Basiri Microfinance Bank, today, in the city of Mukalla, Hadramout Governorate.
He added, "The granting of licenses to these banks parallel to the establishment of large commercial banks comes to achieve a number of development goals, including raising the participation rate in the national economy for a wide category of the labor force, expanding the ownership base in society, optimal employment of human and material resources, achieving social stability and absorbing part of unemployment among among youth.
Presidential Leadership Council discusses national, regional developments
Leadership Council Member Highlights Iranian Support for Houthi Militia
Vice Foreign Minister Meets with US Congressman Brad Sherman
UN Humanitarian Coordinator Visits IDP Camps in Marib
Ambassador Al-Ashbi Pakistani Official Discuss Ways to Promote Bilateral Relations
Hadramout Governor, Chinese Ambassador discuss development efforts
Central Bank of Yemen to Hold Foreign Currency Auction
Yemeni Interior Ministry and INSO Discuss Cooperation
Dr. Abdullah al-Alimi receives Ambassador of Royal Netherlands
Presidential Leadership Council Chairman Meets with EU Ambassadors