Yemen Monitor / Newsroom:
The Governor of the Central Bank of Yemen, Ahmed Ghaleb Al-Maabqi, on Tuesday chaired a meeting at the bank’s headquarters in Aden with the heads of commercial banks operating in the country, along with the technical and executive team of the National Committee for Import Financing and Regulation.
In a statement, the Central Bank said the meeting was dedicated to reviewing and assessing the committee’s performance since the start of its work, as well as the technical and administrative observations arising from the implementation mechanisms that require reconsideration. The participants agreed on a set of alternatives aimed at expediting the processing of applications and ensuring the smooth flow of supply chains without obstacles.
The statement added that the committee’s executive team presented the key issues that require greater attention from banks before submission, to ensure procedural accuracy and save time and effort for all parties involved.
Bank directors expressed their satisfaction with the import regulation mechanism and the progress achieved within a short period since its implementation, stressing the importance of adhering to it to strengthen compliance with anti–money laundering and counter–terrorism financing requirements, and to protect the banking and commercial sector from the risks of non-compliance.
The meeting also discussed the current monetary situation and the challenges posed by liquidity shortages in the national currency, reviewing several proposed solutions and recommendations to address them.
