Exchange companies close doors in Aden amid calls for urgent probe

   ADEN, Sept.02 (YPA) – Aden-based Money Changers  Association declared on Tuesday a inclusive strike across all banking sector companies and institutions.

  In a statement, the association said the strike came to escalate the protests against what it described as “irregularities and violations” in the local foreign exchange market.

It explained that the strike was also in response to media campaigns targeting the banking sector with “inaccurate” and “misleading” information not based on official sources, noting that these practices “open the door to rumors” and harm financial stability.

The statement affirmed that its full adherence to the decisions of the coalition-held central bank, considering them the basic framework regulating the sector’s work.

“The association has been and remains a key partner of the central bank in all measures aimed at achieving market stability, but it will not remain “inactive” in the face of practices that harm the sector,” the statement.

The association’s statement called for a “transparent and urgent” investigation into the nature of recent transactions that have sparked widespread controversy in the market, stressing that the strike aimed to protect banking sector workers and defend the interests of the market and society as a whole.

It indicated that the association would not back down from its position until serious solutions be put in place to ensure stability and prevent manipulation of exchange rates.

AA