Banaja: CBY grants 6 licenses to microfinance banks

CBY Governor: IMF Statement reflects renewed institutional engagement with the international community

Governor of the Central Bank of Yemen Ahmed Ghaleb has said that the International Monetary Fund (IMF) statement on the conclusion of Article IV consultations with the Republic of Yemen reflects an important return to institutional engagement with the international community after a long period of interruption, welcoming the content of the statement.

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 rises as markets assess supply risks

Oil prices rose today, Tuesday, due to supply concerns, with Brent crude futures climbing $2.89, or 2.9 percent, to $102.83 per barrel.

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: ، 2026/04/04 Time 08:58:39
Latest News:

IMF Executive Board approves results of Article IV consultations with Yemen

KSrelief distributes tents, shelters for rain-impacted families in Marib

Distribution of 400 food parcel to flood-impacted families in Mocha with Kuwaiti suppor

National Committee for Regulating, Financing Imports approves several measures

Yemen, France discuss security cooperation

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.