Acting Chairman of Banks Association praises Central Bank's procedures

September 9, 2020

SANAA, Sep. 8 (Saba) - Acting Chairman of the Yemeni Banks Association Mahmoud Qayed Naji called on all financial and banking institutions to abide by the directives of the Central Bank of Yemen to ensure financial and monetary stability and exchange rate stability.

In a statement to Saba, the Acting Chairman stated that the measures issued recently by the Central Bank of Sanaa regarding dealing in dollar currency notes 2003 and 2006 prevent the exploitation of citizens and ensure protection for their savings from local and foreign currencies.

Naji emphasized that what the bank has done came out of its responsibility to stabilize prices and protect citizens from exploitation practiced by some exchange companies and prevent those companies' attempts to achieve illegal profits at the expense of the simple citizen.

The chairman of the association also stated that the whole world deals with banknotes of dollar, praising the measures taken by the bank to alleviate the suffering of citizens.

It is noteworthy that the Central Bank of Yemen issued an announcement at the beginning of this month confirming that the value of the dollar notes of 2003 are 2006 - white - is the same as the current issues of dollar' blue', he said.

Acting Chairman of the Yemeni Banks Association warned banks and exchange companies against manipulation or discrimination in their exchange rates.