Local News

Businessman calls for activating the role of YCB

The Yemeni businessman and a member of Economic Reform Team (ERT) , Mr. Khalid Abdul Wahid Noman, called on the government to activate the role of the Central Bank of Yemen to carry out its Tasks  as a bank responsible for monetary policy and its stability through controlling its mechanisms and tools.

Mr. Khaild mentioned in In a letter  sent to the  Prime Minister Dr. Ahmed Obaid Bin Daghr regarding  the recommendations of the meetings of ERT and Development Masters Forum, he said although ten months passed since the decision of  transferring  the Central Bank of Yemen from Sana'a to Aden, but did not begin to exercise its main functions as  issuing bank, Central bank of all Banks and State Bank.

He added that  increasing demand during Ramadan on the liquidity formed a big  pressure on exchange rates, where  black exchange markets was able to provide liquidity  with interest rates reached to more than 20%, which basically  Constitutes  a danger on the national economy in which all official institutions get effected and this   reflected negatively On the lives of citizens as a result of rising food prices.

Mr. Khalid called for holding consultative meetings with the Yemeni Prime Minister and Aden Governor to discuss  proposals and recommendations presented in advance by the private sector which would address the problems and obstacles  of activating banking system, in particular activating the role of the Central Bank to carry out its full tasks .

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