Central bank, money transfer businesses discusses compliance with rules

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Central bank, money transfer businesses discusses compliance with rules

[04/08/2019 12:42]

ADEN-SABA
The national central bank and money exchange and transfer businesses have sat together and discussed the latter's compliance with rules.

The meeting held today in the temporary capital Aden addressed the mechanism of operation of the remittance networks especially the measures that reduce the risks of violations, e.g. refraining from interfacing with unlicensed money exchangers and currency speculators.

The Assistant Deputy Governor for Control on Banks Mansour Rajeh indicated that next year will see the installation of one computer-based network for all money exchange and transfer business in the country to prevent currency speculation and the risks of financing terrorism.