Al-Sharq Al-Awsat newspaper quoted a source in the Central Bank of Yemen in the capital, Aden, on Monday, July 1, 2024, as saying that the bank’s presidency is in the process of preparing a “tougher” decision against commercial banks that “violate” its instructions and decisions in areas controlled by the classified Houthi group. Internationally on terrorist lists. 

According to the Saudi newspaper published from London, the source said that the decision “could be taken at any moment if the violating banks in the Houthi-controlled areas do not begin to take steps to respond and comply with his previous decisions.”

The bank’s expected decision, according to the source, includes “withdrawing SWIFT from the banks that violate and reject its decisions, and permanently canceling its operating licenses.” This will lead to the complete cessation of its activities outside the areas under the control of the Houthi group, and will turn them into small internal exchange offices unable to provide any banking services to individuals, companies and institutions.”

The source stated that “the Central Bank still takes into account the interests of depositors and all those dealing with these banks, and hopes that the previous decisions will be sufficient to demonstrate its seriousness in controlling the banking sector and controlling its operations and managing them in accordance with the law, in addition to its efforts to win the banks to its side instead of using the group.” The Houthis have it.”

The bank continued its measures to tighten the banking noose on the Houthi group, which is internationally classified as a terrorist group. By a decision issued on Friday, it canceled the licenses of three exchange companies and ordered the closure of their branches indefinitely, for violating the bank’s decisions and instructions. 

This decision came after two previous decisions, imposing a unified network for internal remittances, prohibiting dealing with 12 unlicensed electronic payment entities, and permanently stopping work in local money transfer networks owned by banks, banks, or exchange companies and facilities operating in Yemen.

On May 30, the Central Bank of Yemen, in the city of Aden declared the temporary capital of the country, issued a decision to stop dealing with 6 Yemeni banks, after the expiry of the 60-day deadline to implement its decision to transfer their main centers to Aden.

He also issued another decision in which he called on all individuals, shops, companies, other parties, and financial and banking institutions who hold old-issue paper money before the year 2016 and of various denominations, to quickly deposit them within a maximum period of 60 days from the date of the announcement.