Yemen Monitor/Newsroom:
The Central Bank of Yemen in Aden announced today, Wednesday, that it has issued decisions to suspend and close “Raydan Exchange” and to revoke the license and close a branch of “Al-Ahqaf Exchange Company.” The measures were taken because the two facilities violated regulations and rules governing currency exchange activities.
The bank affirmed that these actions are part of its efforts to regulate the currency market and prevent illegal practices. It stressed that it will not be lenient with any facility that violates laws or threatens the stability of the national currency.
This is part of an ongoing campaign by the Central Bank, which has closed dozens of violating exchange companies and facilities in recent weeks, coinciding with a noticeable improvement in the value of the national currency against foreign currencies.
