Economist: For these reasons, the Houthis are afraid of the decisions of the Central Bank in Aden
An economic expert revealed the reason for the Houthi terrorist militia's panic over the decisions issued by the Central Bank of the legitimate government in the temporary capital, Aden.
Ahmed Ayed said, “The serious action of the Central Bank in Aden made the Houthi militias raise their screams and threats against legitimacy and Saudi Arabia.”
Ayed explained that “remittances from Yemenis abroad into Yemen are approaching $4 billion annually,” noting that the decision to prevent foreign transfers except through the two centers of Aden or approved exchange companies is a fatal blow to the Houthis and a step on the right path for the bank.
He added: “Thus, the sources of funding for the Houthi terrorist militia in Yemen will be dried up.”
On May 23, the Central Bank of Aden issued a decision regulating the practice of foreign transfer activity through international remittance companies, as part of its supervisory procedures over banking activity in the country.
The decision, which aims to strengthen control over the movement of funds and ensure the safety of financial transactions, obliges all qualified banks and exchange companies to provide foreign transfer services through their main centers and affiliated branches.
The decision also allows the granting of sub-agents with annual contracts to companies or local exchange facilities to practice external remittance activity, with the requirement that they obtain a letter of no objection from the Central Bank of Yemen before signing the contract.
The decision obliges companies that want to engage in external remittance activity through sub-agents to submit the approval of the board of directors of the bank/exchange company concerned, and a copy of a questionnaire form testing the extent of the agent’s compliance with anti-money laundering and counter-terrorism financing procedures.
This step comes about less than two months after a deadline granted by the Central Bank in Aden to commercial banks, Islamic banks, and microfinance banks to move their headquarters to the capital, Aden.
