Banaja: CBY grants 6 licenses to microfinance banks

A government source confirms full support for Saudi-Emirati mediation to end escalation and for withdrawal of the Transitional Forces from Hadramout, al-Mahrah

An authorized official in the Yemeni government stated that His Excellency President Dr. Rashad al-Alimi, Chairman of the Presidential Leadership Council (PLC)—Commander in- Chief-- was briefed along with a number of Council members and members of the National Defense Council on the situation in Hadramaut governorate, including the hostile military operations of the Transitional Council in recent hours, and the grave violations against innocent civilians in the governorate.

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).

Korean autos exports rise 13.7 percent in November

South Korea's autos exports rose by 13.7 percent year-on-year in November, thanks to a notable increase in shipments of eco-friendly and hybrid models.

Barcelona Consolidates Lead in Spanish La Liga with Win Over Villarreal

Barcelona strengthened its position at the top of the Spanish La Liga table after defeating host Villarreal 2-0 in the 17th round of the competition.

Last Update: ، 2025/12/26 Time 09:44:51
Latest News:

UK REAFFIRMS COMMITMENT TO YEMEN'S UNITY AND SOVEREIGNTY

Leadership Council Chairman Presides Over Meeting of National Defense Council

Arab Parliament Reaffirms Support for Yemen's Unity and Government

Yemen Ambassador, Chinese Official Discuss Yemen Developments

Jordan welcomes Saudi Arabia's statement on recent developments in Hadramawt and Al-Mahra

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.