US Targets International Bank of Yemen for Support to the Houthis
WASHINGTON — Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) is sanctioning Yemen-based International Bank of Yemen Y.S.C. (IBY) for its financial support to Ansarallah, commonly known as the Houthis, which is part of the Iran threat network. As part of this designation, OFAC is also sanctioning key leaders or officials of IBY, Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara. The designation of IBY complements the whole-of-government effort to stop Iran-backed Houthi attacks against commercial shipping in the Red Sea.
'Financial institutions like IBY are critical to the Houthis' efforts to access the international financial system and threaten both the region and international commerce,' said Deputy Secretary of the Treasury Michael Faulkender. 'Treasury remains committed to working with the internationally recognized government of Yemen to disrupt the Houthis' ability to secure funds and procure key components for their destabilizing attacks.'
Today's action against IBY and its officials, which follows the January 17, 2025 designation of Yemen Kuwait Bank for Trade and Investment Y.S.C., further targets the Houthis' access to and exploitation of Yemen's banking sector. It also underscores Treasury's support for the internationally recognized government of Yemen's sovereignty over the Yemeni banking system.
This action is being taken pursuant to the counterterrorism authority, Executive Order (E.O.) 13224, as amended. The U.S. Department of State's designation of Ansarallah as a Specially Designated Global Terrorist (SDGT) pursuant to E.O. 13224, as amended, became effective on February 16, 2024. On March 4, 2025, the Department of State announced the re-designation of Ansarallah as a Foreign Terrorist Organization (FTO) pursuant to section 219 of the Immigration and Nationality Act, as amended.
SUPPORTING REPUBLIC OF YEMEN GOVERNMENT PARTNERS
Since the Houthis took control of large portions of Northern Yemen, the group has exploited access to formal financial institutions to facilitate transactions in support of their terrorist activities, which have disrupted international shipping and killed civilians. To address Houthi exploitation of these financial institutions, following the U.S. designation of the Houthis as an FTO on March 4, 2025, the Central Bank of Yemen – Aden (CBY – Aden) has worked with banks in Houthi-controlled territory to move their operational headquarters to Aden, Yemen, far from the intimidation and coercive influence of the Houthis. Despite these efforts, IBY continues to refuse to move its headquarters from Houthi-controlled territory.
INTERNATIONAL BANK OF YEMEN Y.S.C.
Based in Sana'a, Yemen, the International Bank of Yemen Y.S.C. (IBY) is controlled by the Iran-backed Houthis and provides the terrorist group access to the bank's Society for Worldwide Interbank Financial Telecommunications (SWIFT) network to make international financial transactions. For instance, IBY has aided Houthi-associated businesses and officials to purchase oil through the bank's access to the SWIFT network. IBY has also facilitated attempts by the Houthis to evade sanctions oversight, and has helped the Houthis to mobilize resources and confiscate assets from Houthi opponents. IBY has refused to comply with CBY – Aden information requests to avoid revealing the details of these Houthi confiscations.
The three individuals designated today hold important leadership roles at IBY and are responsible for the bank's operations: Kamal Hussain Al Jebry is the Chairman of the Board of Directors of IBY; Ahmed Thabit Noman Al-Absi is the Executive General Manager of IBY; and Abdulkader Ali Bazara is the Deputy General Manager of IBY.
IBY is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Ansarallah.
Kamal Hussain Al Jebry, Ahmed Thabit Noman Al-Absi, and Abdulkader Ali Bazara are being designated pursuant to E.O. 13224, as amended, for being leaders or officials of IBY.
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