YEMEN Press Agency

Aden’s Central Bank refuses to verify facts of corruption

SANAA, Feb. 21 (YPA) – The Central Bank of Aden, controlled by Hadi’s government loyal to Saudi-led coalition, has rejected procedures of inspection and verification of corruption incidents, according to the latest report of the UN experts committee.

Informed sources said on Sunday that the Bank’s Board of Directors prevented a committee, formed from parliamentarians affiliated with the Hadi government, the anti-corruption commission, and the central organization for control and auditing, from taking steps to inspect and verify money laundering incidents linked to Saudi depository operations during the year 2018.

The UN experts’ report in late January accused the Central Bank in Aden of violating currency exchange rules, manipulating the currency exchange rate, and laundering a tangible portion of the amount allocated by Saudi Arabia through a complex mechanism.

The report held the Central Bank administration in Aden and the Hadi government responsible for money laundering and corruption.

It is noteworthy that the value of the Yemeni riyal in the provinces under the control of the coalition and the Hadi’s government witnessed an unprecedented decline, reached more than 900 riyals per dollar.

This has led to an increase in food prices, exacerbation of the suffering of citizens, and an increase in poverty.