The U.S. Treasury Department announced sanctions on Thursday, April 17, against Yemen International Bank (IBY) and three of its senior executives for allegedly providing financial support to the Iran-backed Houthis. This marks the second Houthi-controlled bank to face U.S. sanctions recently, foll...
Banks operating in Houthi-controlled Sana'a are relocating their headquarters to Aden to avoid stringent U.S. sanctions imposed on the group, the Central Bank of Yemen announced Friday. The bank, based in Aden, welcomed the decision and pledged support for the institutions to ensure uninter...
On September 25, 2024, Major General Sultan Al-Arada, a member of the Presidential Leadership Council, and Ahmed Awad Bin Mubarak, the recognized Prime Minister of Yemen, inaugurated the main center of Al-Salam Capital Islamic Microfinance Bank, marking it as the second private bank to estab...
The Central Bank of Yemen (CBY) in Aden, the country's temporary capital, issued a statement on Sunday, July 14, 2024, denying the authenticity of a circulating memo attributed to Governor Ahmed Ghalib al-Maabaqi. The memo allegedly instructed the Saudi Ambassador to Yemen, Mohammed al-Jaber, ...
The Central Bank of Yemen, headquartered in the temporary capital of Aden, has revoked the licenses of six local banks for failing to comply with a directive to relocate their main headquarters to the city. According to a leaked copy of the Central Bank's decision obtained by "Barran P...
Al Rajhi Bank, one of Saudi Arabia's largest financial institutions, has suspended financial transactions and transfers through six Yemeni commercial banks, aligning with a recent decision by the Yemeni Central Bank (CBY) in Aden. The move comes after the CBY, based in the temporary c...