Central bank issues important circular to money-exchange companies in Sanaa

SANAA, July 19 (YPA) – The Yemeni Central Bank in Sanaa issued on Sunday an important circular to all money-exchange companies being required to seize the funds of people and active companies in selling fake shares to defraud citizens.

The central bank directed ,in a warrant that issued on July 16, the exchange companies to implement due diligence and special care procedures to identify customer and the real beneficiary, according to the instructions in effect, in addition to ensure that companies obtained legal licenses from the Ministry of Industry and Trade and its offices in the governorates.

The circular stressed that the commercial register was not sufficient, and that the company was established in accordance with the Commercial Companies Law.

The bank called on all companies to report any false or fake activities or activities suspected to be related to money laundering or terrorist financing and fraud crimes.

AA