Banaja: CBY grants 6 licenses to microfinance banks

Kuwaiti Fund signs Grant Agreement Worth $1.2 million for displaced persons in Yemen

The Kuwaiti Fund for Arab Economic Development signed Thursday a Grant Agreement with the United Nations High Commissioner for Refugees (UNHCR) worth $1.2 million to contribute to the rehabilitation and maintenance of homes for displaced persons in Yemen.

Death toll in Gaza Strip has risen to 48,515, and injuries has risen to 111,941

The death toll in the Gaza Strip has risen to 48,515, and the number of injuries has risen to 111,941, the majority of whom are children and women, since the start of the Israeli occupation's genocidal war on October 7, 2023.

QCB's foreign exchange reserves rise 3.81 percent

The Qatar Central Bank's (QCB) international reserves and foreign currency liquidity increased by 3.81 percent in February to 255.916 billion riyals, compared to 246.509 billion riyals in the same month last year.

Saudi Arabia's Al-Taawoun qualifies for AFC Champions League semi-finals at expense of Iran's Tractor S.

Saudi Arabia's Al-Taawoun qualified for the AFC Champions League semi-finals after defeating Iran's Tractor S. 4-2 on penalties, after both teams finished 2-2 after regulation and extra time.

Last Update: ، 2025/03/14 Time 05:32:18
Latest News:

Oil Minister: It is vitally important to resume oil exports

FM praises China's support for Yemen

Leadership Council's Member Aidarous al-Zubaidi inaugurates several projects in Mahara

Yemen Deputy Foreign Minister Meets UN Envoy's Representative to Discuss Peace Efforts

Ambassador Eryani and German Official confer over developments in Yemen

Banaja: CBY grants 6 licenses to microfinance banks

[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.