Latest news with #CentralBankofYemen
Saba Yemen
15-07-2025
- Business
- Saba Yemen
Central Bank announces release of second edition of 200-Rial Banknote for Circulation Starting Tomorrow
Sana'a – SABA: The Central Bank of Yemen has announced that it will begin circulating the second edition of the 200-rial banknote starting tomorrow, Wednesday, 16 July 2025 (21 Muharram 1447 AH). In an official statement received by the Yemeni News Agency (SABA), the Bank explained that this move is part of its broader plan to restore and strengthen the national monetary system. The plan is focused on preserving the purchasing power of the Yemeni riyal and facilitating daily transactions for all citizens. The new issue of the 200-rial note will be circulated alongside recently issued metal coins and is intended to resolve the issue of damaged and worn-out notes of 250 rials and lower denominations. The Bank emphasized that this move will not involve injecting additional money into the market or affecting exchange rates. The new note has been designed and printed using the latest international standards and security features at multiple levels to prevent counterfeiting. The Bank reaffirmed its commitment to restoring the credibility and strength of the national currency, which has suffered from systematic economic warfare led by the U.S. through regional and local proxies. As part of its future plans, the Bank will assess over the next six months whether there is a need to mint and issue lower denominations below 50 rials. The Bank also stated that, out of its responsibility to protect citizens' rights and interests across Yemen, it had delayed the release of the new banknote — despite it being ready — to allow time for the implementation of peace commitments under the roadmap, which Saudi Arabia continues to delay. The Central Bank thanked the Yemeni people for their steadfastness and trust, which it described as the key factor in the success of its monetary policies. This trust will continue to motivate the Bank to take further steps that serve the economic interests and aspirations of the nation. Whatsapp Telegram Email Print
Yemen Online
13-07-2025
- Business
- Yemen Online
"Amid Accusations of Financial Guardianship" ... Houthis Seize Yemen Gulf Bank
Sana'a – Houthi Rebels has appointed senior figure Raed Al-Sha'er as judicial guardian over the Yemen Gulf Bank, one of the largest commercial banks in Houthi-controlled territories. Banking sources revealed that the newly installed administration has slashed employee salaries by more than 60%, without legal basis or judicial decision. Employees who attempted to resign were reportedly threatened and forced to remain in their positions. Sources also indicated that debt collection operations are being carried out illegally, without being recorded in the bank's official system—raising serious suspicions of money laundering and the potential use of funds to support armed group activities. In response, the Central Bank of Yemen in Aden announced its readiness to support banks relocating their operations to liberated areas in an effort to protect the national banking system from collapse.
Saba Yemen
13-07-2025
- Business
- Saba Yemen
Central Bank Announces Minting of (50) Riyal Coin
Sana'a (Saba) - The Central Bank of Yemen announced the minting of a new (50) Riyal coin, which will be put into circulation starting today, Sunday, the 18th of Muharram 1447 AH, corresponding to July 13, 2025 AD. In a statement issued today and received by the Yemeni News Agency (Saba), the Central Bank indicated that the minting of this coin comes within the framework of the bank's commitment to finding solutions to the problem of damaged banknotes and enhancing the quality of national currency in circulation. Whatsapp Telegram Email Print
Saba Yemen
12-07-2025
- Business
- Saba Yemen
Central Bank Announces New 50-Rial Coin to Enter Circulation on Sunday
Sana'a - Saba: The Central Bank of Yemen announced the minting of a new 50-rial coin, which will enter circulation starting Sunday, 13 July 2025 (18 Muharram 1447 AH). In a statement received by the Yemeni News Agency (SABA), the bank said the coin was minted as part of efforts to address the issue of damaged banknotes and improve the quality of circulating currency. The move also reaffirms the bank's commitment to strengthening public confidence in the national currency. It follows a similar step with the issuance of the 100-rial coin, and is aimed at replacing worn-out notes without increasing the overall money supply or affecting exchange rates. The bank confirmed that the coin was designed and minted with high technical and security standards to ensure durability and efficiency in circulation. Designated exchange centers at the bank's headquarters and provincial branches will allow citizens and relevant entities to exchange damaged paper notes for the new coins during official working hours. The Central Bank expressed its appreciation to the Yemeni people for their trust, reaffirming its commitment to taking all necessary measures to strengthen the national currency, stabilize the monetary system, safeguard citizens' savings, and reinforce confidence in the national economy—regardless of the challenges. Whatsapp Telegram Email Print more of (Local)
Saba Yemen
01-07-2025
- Business
- Saba Yemen
Allocations for May salary getting prepared according to exceptional plan
Sana'a - Saba: The Ministries of Finance and Civil Service and Administrative Development confirmed the commencement of issuing financial reinforcements for May 2025 salaries to public service units included in the monthly disbursement list, in accordance with the State Employee Salary Replenishment Program, which stems from the Law on the Exceptional Mechanism for Providing State Employee Salaries and Repaying Small Depositors. The two ministries explained in a joint statement, a copy of which was received by the Yemeni News Agency (Saba), that the reinforcements were issued through the Central Bank of Yemen, and through it to the General Postal Authority and the Cooperative Agricultural Credit Bank (CAC Bank), according to the lists issued by the Ministry of Civil Service. The statement indicated that this is being done with the direct supervision of the President of the Supreme Political Council, Field Marshal Mahdi Al-Mashat, and the Prime Minister, Ahmed Al-Rahwi. The statement reiterated the Government of Change and Construction's commitment to monthly disbursements in accordance with what was previously announced in accordance with the Law on the Exceptional Mechanism. The statement noted that the exceptional mechanism for providing employee salaries and repaying small depositors represents exceptional, temporary solutions. It emphasized that this does not exempt the countries participating in the aggression against our country from paying salaries and compensation to all public service employees affected by the aggressor states that control oil and gas revenues, which previously covered the salary bill. Whatsapp Telegram Email Print more of (Local)
