Yemeni Central Bank: Houthi Militia Circulates Counterfeit Currency with Terrorist Signature, Warns Citizens, Companies, and Banks Against Its Use
In an official statement, the bank clarified that this move coincides with the militia's announcement of its intent to introduce this counterfeit currency in its areas of influence on Wednesday, July 16, less than 72 hours after issuing a new 50-riyal coin. This, the bank stressed, exposes the militia's systematic intent to fatally undermine Yemen's financial and economic system.
The bank affirmed that these actions are an extension of the Houthi militia's policy of looting and counterfeiting, aimed at financing its illegal financial networks and shell institutions, which operate without monetary cover or legitimacy. This has led to the uncontrolled injection of trillions in local currency and billions in foreign currencies, devoid of proper banking oversight or regulation.
The statement described these reckless measures as evidence of the militia's severe economic vulnerability and its desperate attempts to delay an imminent financial collapse through illicit means. It warned that such policies could trigger widespread public backlash due to the destruction of Yemenis' livelihoods and the plundering of their savings.
The Central Bank urged all citizens, financial and banking institutions, and exchange companies to refrain from handling these counterfeit notes in any form or accepting them in financial settlements, as they are issued by an illegitimate entity classified as terrorist. Dealing with such currency, the bank cautioned, exposes violators to legal accountability and penalties under relevant local and international laws.
The statement noted that the Aden-based Central Bank had worked in recent years to keep financial and banking channels open with Houthi-controlled areas, in coordination with allied and friendly nations, to ensure continued financial services for citizens there. However, the militia's insistence on sabotaging the monetary system threatens these efforts and risks triggering international sanctions.
The bank concluded by holding the Houthi militia fully responsible—legally and financially—for its economic crimes and their catastrophic repercussions on citizens, institutions, and Yemen's relations with regional and international financial systems.
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