Yemen: Launch of a workshop on developing the digital financial system infrastructure in Aden

Arab Sea Newspaper - News Updates

Arabian Sea - Yemen - Follow-ups: The Governor of the Central Bank, Ahmed Ahmed Ghaleb Al-Maabaqi, inaugurated today, in the interim capital Aden, a workshop dedicated to developing the infrastructure of the digital financial system in Yemen, organized by the United Nations Development Program and funded by the World Bank, with the participation of representatives from banks and financial institutions. Al-Maabaqi affirmed that the project aims to address the challenges facing the financial sector, most notably the limited financial inclusion and the heavy reliance on paper money, pointing out that the introduction of digital payment systems will enhance oversight and transparency and reduce the risks of corruption and money laundering. He explained that the project includes systems for rapid payment and instant settlements, in addition to enhancing interoperability between financial institutions and linking them to international standards, which will contribute to consolidating confidence and supporting economic activity.