Yemen: Meeting in Aden to discuss the results of the committee for organizing and financing imports.

Arab Sea Newspaper - News Updates

Arabian Sea - Yemen - Follow-ups: A meeting was held today in the interim capital, Aden, chaired by the Governor of the Central Bank of Yemen, Ahmed Ghaleb, to discuss the progress of the National Committee for Organizing and Financing Imports, with the participation of directors of banks operating in the Republic, and the technical and executive teams of the committee. The meeting reviewed the results of the committee's work since its launch, and the technical and administrative challenges revealed by the implementation mechanisms, where an agreement was reached on alternatives to address them in a way that ensures speeding up the processing of requests and facilitating the flow of supply chains without obstacles, to be presented at the next meeting. During the meeting, the executive team presented a number of observations related to the banks' working mechanism, calling for more accuracy before submitting requests to save time and effort and achieve the common interest of all parties. For their part, the bank directors expressed their satisfaction with the import mechanism and the positive results it has achieved since its implementation, affirming their commitment to implementing it during this stage, in a way that enhances compliance with the requirements of combating money laundering and terrorist financing, and contributes to protecting the banking and commercial sectors from any potential risks. The meeting also discussed the current monetary situation, the reasons for the scarcity of liquidity in the national currency, and the possible options for addressing it, stressing the importance of continuing periodic meetings to follow up on developments in the banking and monetary situation, and to study solutions and proposals that would support stability and develop the banking sector in the country.