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2026/07/08
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Latest News:
Masam Removes 180 Landmines from Farmland North of Midi, Restoring Hope for Farmers
Minister of Social Affairs Discusses Situation of Social Fund for Development with International Partners
President al-Alimi Praises Korea's Role In Supporting Yemen, Tightening Sanctions On Terrorist Militias
Yemen, Japan Explore Expanded Security Partnership
Prime Minister: Houthis Responsible for Derailing Peace Efforts
CBY works on electronic system to follow letters of credits
[23/06/2019 01:53]
ADEN-SABA
Governor of the Central Bank of Yemen (CBY) Hafez Meayad said " The CBY currently was working on establishing an electronic system to directly follow the movement of the transactions of letters of credits by the commercial bank or the client".
Meayad statement came as he chaired periodic meeting included the CBY, commercial and Islamic banks. The session aimed to discuss banking action to activate trade through opening letters of credits to import basic commodities and invigorate monetary cycle.
Meayad stated that the CBY is interested in offering every necessary support for the banks to help them managing challenges they are facing.
Key words:
SABA Governor - transactions - establishing - commodities - invigorate - interested - commercial - Meayad - challenges - electronic -
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