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2026/10/15
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Latest News:
Yemen Calls on Arab Countries to Designate Houthi Militias as Terrorist Organization
Coalition Intercepts and Destroys Cruise Missile in Medina Region
Yemeni Rights Network Documents 219 Houthi Violations in Taiz in 48 Hours
European Union Calls on Houthi Militias to Lift Siege on Taiz, Allow Food Supplies to Enter the City
Government Calls for Urgent UN Action to Lift Siege on Taiz
Banaja: CBY grants 6 licenses to microfinance banks
[06/02/2023 12:25]
Mukalla – Saba
Deputy Governor of the Central Bank, Dr. Muhammad Banajah, stressed the importance of establishing microfinance banks that specialize in financing small projects whose owners are often young people and the most numerous groups of the labor force.
"The Central Bank of Yemen has recently granted licenses to 6 banks, some of which are existing and carrying out their activities, and some that are under opening," Banaja said at the inauguration ceremony of Al-Basiri Microfinance Bank, today, in the city of Mukalla, Hadramout Governorate.
He added, "The granting of licenses to these banks parallel to the establishment of large commercial banks comes to achieve a number of development goals, including raising the participation rate in the national economy for a wide category of the labor force, expanding the ownership base in society, optimal employment of human and material resources, achieving social stability and absorbing part of unemployment among among youth.
Deputy Governor of the Central Bank, Dr. Muhammad Banajah, stressed the importance of establishing microfinance banks that specialize in financing small projects whose owners are often young people and the most numerous groups of the labor force.
"The Central Bank of Yemen has recently granted licenses to 6 banks, some of which are existing and carrying out their activities, and some that are under opening," Banaja said at the inauguration ceremony of Al-Basiri Microfinance Bank, today, in the city of Mukalla, Hadramout Governorate.
He added, "The granting of licenses to these banks parallel to the establishment of large commercial banks comes to achieve a number of development goals, including raising the participation rate in the national economy for a wide category of the labor force, expanding the ownership base in society, optimal employment of human and material resources, achieving social stability and absorbing part of unemployment among among youth.
Key words:
establishment - participation - establishing - Microfinance - inauguration - unemployment - microfinance - development - Governorate - employment -
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