Yemen Monitor / Aden / Exclusive
Eight commercial banks in Sana’a have decided to relocate their headquarters to the temporary capital, Aden, according to a statement from the Central Bank of Yemen.
The statement noted that the banks officially informed the Central Bank of Yemen in writing about their decision to move their headquarters and operations from Sana’a to Aden to avoid falling under U.S. sanctions on the Houthi armed group.
The banks include: Tadhamon Bank, Al-Kuraimi Islamic Microfinance Bank, Yemen and Bahrain Comprehensive Bank, Yemen Islamic Bank for Finance and Investment, Saba Islamic Bank, Yemen and Gulf Bank, the Yemeni Commercial Bank, and Al-Amal Microfinance Bank.
Earlier this month, the decision by Donald Trump’s administration to fully designate the Houthis as a Foreign Terrorist Organization came into effect.
