Yemen’s central bank issues urgent circular to all banks, exchange companies

SANAA, Aug. 18 (YPA) – The Sanaa-based Central Bank of Yemen announced on Monday an urgent circular to all banks and exchange companies operating in Yemen.

The circular warned the companies of submitting any request to any party or entity in the areas controlled by the coalition-backed Aden government in Aden, on behalf of any importer, to obtain approval to exchange and transfer the value of any goods imported into the Sanaa-held areas.

“In the event of a violation, legal action will be taken against the offending bank or company,” it added.

According to the bank, this circular comes in response to the economic escalation by the Aden government, which includes the imposition of additional restrictions and burdens as part of the blockade on the import of goods.

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