Money exchange association orders cash withdrawals in same currency

SANAA, Jan. 21 (YPA) – The Yemeni Money Exchange Association has announced new measures to regulate exchange operations, particularly those related to customer balances and money transfers.

In a circular issued on Wednesday, based on directives from the Sanaa-based Central Bank of Yemen, the Association affirmed that customers have the right to withdraw their balances and transfers from exchange networks, companies, and establishments in cash and in the same currency in which the funds were deposited or received.

The circular further warned that legal action will be taken against any exchange company or establishment found to be in violation of these instructions.

AA