Barran Press
Aidarus al-Zubaidi, a member of the Presidential Council and President of the Southern Transitional Council, commended the measures taken by the Yemeni Central Bank on Wednesday, June 5, 2024, to "protect the banking sector." He described these decisions as "bold" and stated that such measures were a "long overdue national necessity," according to the official Yemeni news agency, Saba.
During his visit to the headquarters of the Central Bank in the proclaimed temporary capital city of Aden in southern Yemen, al-Zubaidi met with the bank's governor, Ahmed al-Muaqqi, as well as several deputies and department directors. He familiarized himself with the bank's operations, its departments, and relevant divisions, as reported by the agency.
Al-Zubaidi, as reported by Saba, clarified that his visit was "in support of the measures taken by the bank's leadership to protect the banking sector and save it from the systematic chaos and extortion perpetrated by the Houthi terrorist militias in recent years."
Addressing the bank's governor, deputies, and department directors, he stated, "I am here today, representing myself and my colleagues, the President and members of the Presidential Council, to congratulate you on the courageous measures you have taken to protect the banking sector and halt the Houthi's systematic sabotage and violations that harm the national economy," according to the agency.
Al-Zubaidi called on the bank's leadership to "intensify efforts to safeguard the financial and banking sector and proceed with comprehensive financial and administrative reforms to restore the confidence of regional and international financial institutions in the bank."
He emphasized that "all banks, exchange companies, international organizations, and investors will receive utmost care and attention, and they will be provided with the necessary security and legal protection in the temporary capital city of Aden and throughout the liberated governorates."
On his part, Ahmed al-Muaqqi, the governor of the Central Bank, considered this visit as an "additional incentive and strong motivation" for the bank's leadership and staff.
Al-Muaqqi reiterated that "the Central Bank operates at a high pace on all internal and external levels to restructure its operations, enhance its systems, strengthen transparency and governance in its functions, and build the capacities of its staff while securing the financial resources to meet the state and society's obligations."
Last Thursday, May 30, the Central Bank in Aden issued a decision to suspend dealings with six Yemeni banks and financial institutions after the expiration of a 60-day deadline to relocate their main headquarters to Aden.
In early April, the Yemeni Central Bank in the proclaimed temporary capital city of Aden issued a decision obligating commercial banks, Islamic banks, and microfinance banks to transfer their main headquarters from Sanaa to Aden within a maximum period of 60 days.
The recognized Yemeni Central Bank warned that it would take all legal measures against banks that fail to implement the decision "in accordance with the provisions of the effective Anti-Money Laundering and Counter-Terrorism Financing Law and its executive regulations."