The Central Bank of Yemen in Aden today issued a decision requiring the transfer of the main centers of commercial banks, Islamic banks, and microfinance banks to the temporary capital, Aden.

The decision was confirmed on all commercial banks, Islamic banks, and local and foreign microfinance banks operating in the Republic

Moving its main centers from the city of Sanaa to the temporary capital, Aden, within a period of sixty days

The decision stated:

Republic of Yemen

Central Bank of Yemen

Main Center / Aden

Decision of the Governor of the Central Bank of Yemen No. (17) of 2024 regarding transferring the main centers of commercial banks, Islamic banks, and microfinance banks to the temporary capital, Aden

Governor of the Central Bank of Yemen

After reviewing Law No. (14) of 2000 AD regarding the Central Bank of Yemen and its amendments, Law No. (38) of 1998 AD regarding banks, Law No. (21) of 1996 AD regarding Islamic banks and its amendments, and Law No. (15) of 2009 AD Regarding microfinance banks and Presidential Resolution No. (119) of 2016 regarding moving the headquarters of the Central Bank of Yemen to the capital

Temporary Aden

In view of the illegal measures that banks and banks operating in the Republic are being subjected to by a group classified as terrorist.

It would expose banks and financial institutions to the risks of freezing their accounts and stopping dealing with them externally, and the measures taken by that group in terms of issuing illegal currencies in order to disrupt the financial and banking system in the country, preventing banks, banks and financial institutions from dealing in the national currency, and issuing illegal legislation to It would disrupt the work of banking laws, prevent banking transactions, and systematically destroy components of the banking sector.

To enable the Central Bank of Yemen to perform its supervisory duties and practice in accordance with the law.

As required by the public interest,

Decide

Article (1): All commercial banks, Islamic banks, and local and foreign microfinance banks operating in the Republic

Move its main centers from the city of Sanaa to the temporary capital, Aden, within a period of sixty days from the date of issuance of this Article (2): Any bank that fails to transfer its operations center to the temporary capital, Aden, during the period referred to above, all legal measures will be taken against it in accordance with the provisions of The effective anti-money laundering and terrorist financing law and its executive regulations.

The decision.

Article (3): This decision shall be effective from the date of its issuance.

Issued at the Central Bank of Yemen - Headquarters - Hoden on: 23 Ramadan 1445 AH corresponding to: 2 April 2024 AD

Ahmed Ahmed Ghaleb

Governor of the Central Bank - Aden