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

Saudi Delegation Meets with Sheikhs, Notables, Leaders of Hadhramaut

The visiting Saudi delegation to Hadhramaut Governorate, headed by Major General Dr. Mohammed Al-Qahtani, arrived Tuesday in the districts of the Valley and Desert, following the completion of meetings in the city of Mukalla and the coastal districts.

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).

Gold Prices Stabilize as Investors Await Key US Data Release

Gold prices remained steady today, Friday, after rising US Treasury yields offset the dollar's weakness, as investors await crucial US economic data releases.

CAF Unveils Official Mascot for 2025 Africa Cup of Nations in Morocco

The Confederation of African Football (CAF) and the Local Organizing Committee unveiled the official mascot for the 2025 Africa Cup of Nations in Morocco, named "Asad" (Lion), embodying a symbol of African pride and passion for football.

Last Update: ، 2025/12/09 Time 07:27:02
Latest News:

Member of Presidential Leadership Council al-Arada Holds Expanded Official, Public Meeting in Marib

Vice Foreign Minister participates in International Navigation Security Conference in Germany

European Union Mission affirms support to PLC, Government for security

Al-Mahrami Meets Head of Land Authority, Reviews Performance Improvement Plans and Combating Encroachments

UK reaffirms its commitment to supporting Presidential Leadership Council and government

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.