Yemen Monitor/Newsroom:
The Central Bank of Yemen announced today, Wednesday, a decision to suspend the licenses of 13 exchange companies and establishments, including the “Al-Najm” and “Yemen Express” networks. This action was taken due to serious violations of the bank’s instructions and deliberate disregard for regulations governing exchange activities.
Decision No. (7) of 2025, issued by the Governor of the Central Bank, specified that the measure included the companies: Rashad Buheer (Al-Najm network), Al-Aidarous (Yemen Express network), and Dadiyah Online for Exchange, in addition to the establishments: Abu Jalal, Al-Fursan, Abu Nasser Al-Omari, Bin Lahjash, Al-Jaafari, Al-Yamama, Al-Mansoub, Sadiq Tneikeh, Al-Sharabi Top, and Bin Awair.
The Bank affirmed that the decision was based on the findings of a field inspection report from the Banking Supervision Sector, which observed clear and proven violations by these entities. It stressed the continuation of supervisory and regulatory measures to control the banking market and prevent any practices that harm financial stability.
This development comes as the Yemeni Riyal continues its sharp decline against foreign currencies in the interim capital, Aden. It has reached its lowest level since the start of the war in the country in early 2015, threatening catastrophic repercussions for the national economy and citizens’ livelihoods.
According to banking sources, foreign exchange rates have witnessed an unprecedented rise, with the US dollar reaching 2895 Yemeni Riyals for purchase and 2914 for sale. The Saudi Riyal recorded 761 Yemeni Riyals for purchase and 764 for sale.
