The Central Bank of Yemen in Sana’a issued on Friday a decision to ban 13 local and international financial institutions and entities and bar dealing with them.
The bank’s decision ban on these financial institutions and entities is due to their violation of the prevailing laws and the Central Bank of Yemen’s regulations by engaging in banking activities without a license from the Central Bank of Yemen – Main Center in Sana’a.
Additionally, these entities violated the provisions of the Anti-Money Laundering and Terrorism Financing Law, facilitated and dealt with internationally convicted parties for corruption, money laundering, and financing terrorist groups.
They also leaked, disclosed, and handed over financial data to hostile countries and entities, working in their favor to harm the Republic of Yemen and its citizens.
The bank’s decision includes banning dealings with the following financial institutions and banks:
Al-Qutaibi Islamic Bank for Microfinance
Al-Basiri Microfinance Bank
Aden Islamic bank
First Aden Islamic Bank.
National Bank of Yemen – Aden
The Cooperative and Agricultural Credit Bank – Aden
Al-Shumul Bank for Islamic Microfinance
Al Salam Bank
Tamkeen Microfinance Bank
Nama Bank for Microfinance
Sharq Yemeni Bank
Hadramout Commercial Bank
Bin dowal Bank
The Central Bank in Sana’a warned that anyone violating this decision would face legal penalties.
