Yemen Monitor/Newsroom
The Central Bank of Yemen (CBY) on Wednesday suspended new money exchange licenses for violating the report of the Banking Supervision Sector.
The new money exchange establishments are “Al-Nasri Exchange, Arab Express Exchange, Al-Hadath – Remittance Agent, Al-Saeed Express Exchange, Basmah Express Exchange, Nawafeth of the World Exchange, and Dawoud Al-Ameri Exchange.”
The CBY explained in a statement that this decision based on the violations proven in the field detection report submitted by the Banking Supervision Sector.
This comes a week after suspending the licenses of Al-Mari and Al-Mujrabi companies and their branches, as well as suspending the license of Thamar Exchange Establishment and closing the shop until further notice, in addition to banning dealing with 12 electronic wallets.
It also comes at a time when the CBY in Aden is preparing to issue a decision to withdraw the “SWIFT” system from banks that violate and reject its decisions in Houthi-controlled areas, and to cancel their operating licenses permanently, which will lead to a complete halt of their activities outside the Houthi areas, and turn them into small internal exchange offices unable to provide any banking services to individuals, companies and institutions.
The CBY’s measures come at a time when the value of the Yemeni currency continued its sharp decline in the areas of the Yemeni government to reach its lowest level ever against the dollar and foreign currencies in the city of Aden, where the dollar price exceeded 1848 riyals.
