Marib authorities to shut down unlicensed money exchange businesses

Foreign Ministry welcomes International Security Council statement about Yemen

The Foreign Ministry welcomed the statement issued by the International Security Council about Yemen in which the Council affirmed its support for the efforts of the UN Special Envoy to Yemen.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

Korean autos exports rise 13.7 percent in November

South Korea's autos exports rose by 13.7 percent year-on-year in November, thanks to a notable increase in shipments of eco-friendly and hybrid models.

Barcelona Consolidates Lead in Spanish La Liga with Win Over Villarreal

Barcelona strengthened its position at the top of the Spanish La Liga table after defeating host Villarreal 2-0 in the 17th round of the competition.

Last Update: ، 2025/12/24 Time 04:23:23
Latest News:

President al-Alimi praises UN Security Council statement, affirms commitment to protect state legal ..

Press release of the International Security Council

President al-Alimi meets with Consultations and Reconciliation Commission headship

President al-Alimi sets out guidelines for Yemeni diplomatic missions discourse

Yemeni Ministries Reaffirm Constitutional Loyalty Amid STC Secessionist Declarations

Marib authorities to shut down unlicensed money exchange businesses

[04/08/2018 02:09]

MARIB-SABA
A committee chaired by the Deputy Governor of Marib province, Dr. Abd-Rabbu Miftah has approved a plan to shut down unlicensed money exchange business in line with a decision from the Central Bank of Yemen.

The plan, approved by a local government panel will refer exchangers operating without licenses to court.

"This decision of the Central Bank, albeit late, is important in order to preserve the value of the Yemeni currency and the Yemeni economy which are collapsing due to the unfair and illegal speculation with the national currency against foreign currencies," said Miftah.

The recent dramatic devaluation of the Yemeni riyal caused a mad rise in the prices of all basic commodities worsening the already severe humanitarian crisis in the country.