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CBY reviews performance of Islamic Sukuk and Products Unit during 2024
[06/01/2025 06:28]

ADEN - SABA
The Central Bank of Yemen (CBY), held a meeting today, Monday, in the temporary capital Aden, devoted to review the performance of the Islamic Sukuk and Products Unit during the past year 2024.

The Deputy Governor of the CBY Dr. Mohammad Banaja chaired the meeting which underlined the pivotal role of the Islamic Sukuk and Products Unit for the development of sovereign Islamic financial products.

The meeting elaborately discussed an all-inclusive vision to expand the scope of Islamic Sukuk, through the diversification of financial products to enhance its role as one of the most important tools of monetary policy, with a focus on supporting economic infrastructure.

The Deputy Governor of the CBY stressed that Islamic Sukuk is not only a financial instrument, but rather a fundamental pillar for achieving financial and monetary balance.

" The Islamic Sukuk are being widely used and adopted in financial markets and institutions", said Banaja.

He noted that the Islamic Sukuk and Products Unit is currently executing Mudaraba contracts in cooperation with 13 local banks with a total financing capital of 260 billion Yemeni riyals.


Local Administration Minister meets with EU official
Foreign Minister meets EU Ambassador
President al-Alimi praises United States' support for Yemen
Foreign Minister meets with French Ambassador to Yemen
Trade Minister discusses with EU officials joint cooperation
Al-Aradah Meets with UN Envoy's Advisors
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International Conference Emphasizes Importance of Yemen and Saudi Coastal Security, Announces $4 Million Support
Foreign Ministry welcomes UN's decision to move HQ of Resident Coordinator to temporary capital Aden
The Charge d' Affaires of Chinese Embassy reiterates Beijing's support for Yemen's unity, sovereignty

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