Marib authorities to shut down unlicensed money exchange businesses

Yemen Condemns Israeli Bombing of Nasser Medical Complex in Gaza

The Ministry of Foreign Affairs and Expatriates has strongly condemned the Israeli bombing of Nasser Medical Complex in Khan Younis, southern Gaza, which killed and injured several people, including children and medical personnel, and caused extensive damage to medical facilities.

GCC Secretary-General Welcomes UN Security Council’s Position on Houthi Attacks Against Saudi Arabia

The Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi has expressed his appreciation for the position conveyed by members of the United Nations Security Council in their presidential statement regarding the attacks carried out by the Houthi terrorist militia against the Kingdom of Saudi Arabia.

EU Allocates 525 Million Euros to Support Startups in Chip Design

European Commissioner for Technological Sovereignty, Security and Democracy, Hana Verkonen, announced that the European Union (EU) has allocated 525 million euros to support startups in the field of chip design.

Al Nassr Beat Al Fateh 3-0 in Saudi Football League

Al Nassr defeated Al Fateh 3-0 in the opening round of the Saudi Pro League, known as the Roshn Saudi League.

Last Update: ، 2026/11/14 Time 10:01:25
Latest News:

Yemen Expresses Solidarity with Türkiye Over Military Helicopter Crash

GCC Chief Welcomes UN Security Council Resolution Calling on Houthis to End Escalation

Yemen Condemns Continued Houthi Attacks on Saudi Arabia

Al-Sharjabi Discusses Strengthening Cooperation with UNICEF, Green Climate Fund

Human Rights Minister Discusses Cooperation with Japan’s Accept International on Rehabilitation, Reintegration ..

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.