Yemen Monitor / Newsroom:
On Tuesday, the Governor of the Central Bank of Yemen, Ahmed Ghaleb Al-Ma’baqi, issued a decision to suspend the licenses of three new exchange companies and establishments in the governorates under the Yemeni government’s control, ordering them to immediately close their offices.
The decision targeted Mohammed Al-Humaid Exchange and Remittance Company, Ruwad Bin Yazid Exchange and Remittance Establishment, and Mohammed Al-Odaini Exchange Establishment. This brings the total number of companies, establishments, and branches whose licenses have been suspended by the bank to 70 since July 23.
This action is part of the Central Bank’s ongoing efforts to combat financial irregularities, particularly targeting companies and establishments that have failed to comply with its instructions on stabilizing and improving the exchange rate of the Yemeni riyal against foreign currencies. This step aims to protect the national economy and ensure currency stability.
