SANA'A July 16. 2024 (Saba) - The Yemeni Banks Association condemned on Tuesday the threats and arbitrary decisions made by the Central Bank of Aden, the latest of which was the revocation of licenses for six major banks without any legal or economic justification.
In a statement received by the Yemeni News Agency (Saba), the association highlighted that such decisions will only exacerbate instability and disorder in the local financial market.
The statement emphasized that these provocative and hasty decisions and actions will undermine the foundations of the Yemeni banking system, placing additional obstacles that hinder banks from fulfilling their roles in serving citizens and economic activities in the country.
It was stated that the incitement against national banks, casting doubts on their activities, and making baseless accusations irresponsibly tarnish the reputation of the Yemeni banking sector. This shakes the confidence of both clients and correspondent banks in Yemeni banks generally, weakening their ability to meet citizens' basic needs and alleviate their suffering during a particularly difficult time.
The statement pointed out that in this highly complex situation, Yemeni banks have agreed to take escalating protest measures as a symbolic expression to clarify their stance and draw attention to the arbitrary decisions and actions they are facing.
The Yemeni Banks Association held the leadership of what is referred to as the Central Bank in Aden fully responsible for any complications or damages that banks may suffer as a result of decisions and actions taken against them in violation of laws and away from professionalism and principles of good governance.
The association expressed hope that the administration of the Central Bank in Aden would recognize its responsibility and review its decisions that hinder the work of banks, undermine their role in serving the national economy, and cause further suffering to citizens.
The statement urged the bank's administration to support the sector's independence and neutrality, strictly adhere to the laws and regulations governing sector activities, and avoid dragging banking institutions into political conflicts and tensions.
H.H
resource : Saba
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