Zemam, Hudramout businessmen discuss mechanism of open letters of credits for importing food stuffs

Parliament Speaker meets with French Ambassador, Acting US Ambassador

The Speaker of the Parliament Sheikh Sultan al-Barakani met today, Monday, with the French Ambassador to the Republic of Yemen Catherine Corm Kammoun.

Israeli Occupation Forces Arrest 4 Palestinians in Ramallah

Israeli occupation forces arrested four Palestinians in Ramallah province today, Thursday, after raiding their homes.

Oil declines after trade developments between United States and China

Oil prices fell during trading session today, Thursday, following statements by US President Donald Trump regarding a meeting with his Chinese counterpart Xi Jinping

Paris Saint-Germain defeats Nice, underpins their lead in French Ligue 1

Paris Saint-Germain strengthened its lead in the French Ligue 1, after defeating its guest Nice 1-0 in a match held as part of the eleventh round of the French Ligue 1.

Last Update: ، 2025/11/04 Time 08:40:35
Latest News:

Minister Buhybeh discusses with Health Bloc areas of cooperation, coordination

Maritime Affairs Authority discusses with UNDP ways to enhance cooperation in combating marine pollution

PM praises Qatari supportive stances in support of Yemen

PM holds talks with his Egyptian counterpart over bilateral cooperation

Leadership Council Member Tareq Saleh flies from Mokha International Airport to join Climate Summit

Zemam, Hudramout businessmen discuss mechanism of open letters of credits for importing food stuffs

[08/11/2018 07:03]

ADEN-SABA
Governor of Central Bank of Yemen (CBY) Dr Mohammed Zemam held meeting Thursday with a group of businessmen and investors of Hudramout province.

The session intended to discuss the new mechanism the CBY has opted to ease and facilitate procedures to open letters of credits to import basic food stuffs which are being subsidized through the $2billion Saudi deposit.

The needed amounts of foreign currency to cover imports of basic stuffs which total costs less than $200 thousands were also addressed.

The businessmen cited obstacles they have faced as they submitted their applications for first and second payments the CBY offered.

Zemam stated that former troubles have been overcome and new easy mechanism has been adopted, can be accomplished within less than three days by the bank's staff.