On Friday, May 31, 2024, the Presidential Leadership Council announced its full support for the decisions of the Central Bank of Yemen, "its measures and policies aimed at protecting the banking system and ending monetary distortions." The Council urged the continuation of "the policy of economic firmness against the Houthi terrorist militia, and the adoption of the utmost flexibility in dealing with stakeholders."

According to the official Yemeni news agency Saba, the Council, during an extraordinary meeting held via video conferencing, reassured the banking sector and depositors of the importance of these measures, which it said: "only require banks and financial institutions in areas controlled by the Houthi terrorist militia to transfer the main operations management of banks, including information systems, data centers, international operations management, compliance management, as well as holding general assembly meetings outside areas controlled by the militia."

According to the Council, these measures will "enable the Central Bank to carry out its constitutional and legal duties in managing monetary policy, strengthening the position of the national currency, and protecting the funds of depositors from the risks of confiscation and freezing in light of the continued dealings of these banks with a group classified as a terrorist organization, and the implementation of its instructions in violation of banking rules and legal provisions."

The Presidential Leadership Council clarified that all its actions, including the recent economic decisions, "are part of a broader strategy aimed at strengthening the presence of the state and its legitimate institutions. They reflect the free national will to achieve the interests of the Yemeni people in all parts of the country."

The Council stressed its "commitment, from the moment of its formation to providing the necessary political support for the management of the Central Bank of Yemen in its national battle against the Houthi's arbitrary measures and to facilitate the exercise of its full powers under the Central Bank Law and its independence."

The Council stated that it had sought to "neutralize the banking sector from the crisis created by the coup militia, but the militia understood this responsible behavior on the part of the state in a different way... leading to the printing of counterfeit currency in a failed attempt to share the legal center of the state, which is the red line that cannot be crossed under any circumstances."

The Council considered that "requiring banks and financial institutions to move their banking operations centers to the temporary capital Aden was a necessary option in the face of these threats and serious violations of banking rules and their economic and deep humanitarian consequences."

The Presidential Leadership Council praised the international community's understanding of the recent decisions of the Central Bank and all state institutions, considering them the main guarantor of the remaining opportunities for life and meager sources of income for citizens.

The Council warned against "the Houthi militia's attempt to divert attention away from the suffering of citizens and its destructive practices against the banking sector by involving the just Palestinian cause to justify all its violations and opportunistic interests, in a desperate attempt to continue its blatant blackmail of the regional and international community, serving the Iranian regime that supports it."

On Thursday, May 30, the Central Bank of Yemen announced the suspension of dealings with six Yemeni banks and financial institutions after the deadline of 60 days to implement its decision to move their headquarters to Aden expired. The banks include (the Bank of Solidarity, Yemen Kuwait Bank, Yemen and Bahrain Comprehensive Bank, Hope Bank for Microfinance, Al-Karima Bank for Islamic Microfinance, and Yemen International Bank).

At the beginning of April, the Central Bank of Yemen in Aden declared as the interim capital of the country (southern Yemen), issued a decision obligating commercial banks, Islamic banks, and microfinance banks to move their headquarters from Sana'a to Aden within no more than 60 days.

The Central Bank of Yemen, recognized in the context of the decision, threatened to take all legal measures against banks that fail to implement the decision "according to the provisions of the Anti-Money Laundering and Terrorist Financing Law and its executive regulations."