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

Prime Minister, Foreign Minister meets with EU Special Representative for Gulf

The Prime Minister, Minister of Foreign Affairs and Expatriates Dr. Shaya Zindani met today, Saturday, on the sidelines of the fifth session of the Antalya Diplomatic Forum, with the European Union's (EU) Special Representative to the Gulf Luigi Di Maio.

Arab League Calls for Confronting Rising Anti-Muslim Hate

The Arab League on Sunday called for intensified international efforts to confront the growing phenomenon of hate speech and discrimination against Muslims in order to prevent deeper divisions among religions and cultures.

Oil price tops $100 a barrel

Oil prices jumped above $100 per barrel today, Monday, as the U.S. Navy prepares to take control of ship movements in the Strait of Hormuz.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/04/19 Time 04:33:47
Latest News:

Yemen Condemns Israeli Occupation Authorities’ Announcement of Appointing Ambassador to So-Called ..

Minister of Planning leads talks of gov't delegation with Vice President of WB for Middle East and North ..

Al-Sharjabi highlights importance of water agreements to achieve sustainability in water sector

Yemen Welcomes Announcement of Ceasefire in Lebanon

Prime Minister Discusses Strengthening Bilateral Relations with Syrian President

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.