Yemen Monitor/Newsroom:
Economic expert Wafiq Saleh commented on the announcement by a number of banks with headquarters in Sana’a of their readiness to move their financial centers to Aden.
He clarified that this step represents an important development aimed at ensuring the stability of the banking system and protecting it from imposed international sanctions.
Saleh pointed out that the success of this initiative depends heavily on the ability of the legitimate government to provide the necessary support to the banks.
This includes ensuring the continuation of banking services normally, in addition to providing the necessary security and legal protection, and logistical and financial facilities.
He also stressed that banks will face potential challenges during the transfer process, which requires good coordination with the internationally recognized Central Bank of Yemen, to ensure the desired goals of this step are achieved.
The success of the bank relocation to Aden is expected to contribute to enhancing financial and economic stability in Yemen in the long term. This will contribute to attracting foreign investments, developing the private sector, and improving the standard of living for citizens.
However, failure to provide the necessary support may hinder the entire process, further complicating the economic situation.
