During the annual meeting of the governor with commercial banks : Central Bank warns the banks from encouraging their customers to transfer their deposits from rial to foreign currency.
Ahmad Asamawi, Governor of CBY, warned the banks that encourage their customers to transfer their deposits from rial to dollar. He asserted in the annual meeting that was held by the bank on Thursday with the general managers of banks operating in Yemen that the bank would take procedures against the violating banks because this is going to affect the Yemeni economy .
While he praised the banks that finished rising their capitals to 6 billion rials , he warned the banks that did not finish this process that the Central Bank would take procedures against them according to the law.
He also warned Islamic and commercial banks not to give loans for the debtors who are unable to repay whom the Central Bank report about regularly because it is going to lead to a negative effect on the banking sector in Yemen.
They discussed the major issues concerning the banking sector and the national economy as well as the role the banks should perform in the economic activity. They also discussed the necessity of completing entering credit data in the electronic credit registry system at the end of the coming March, and updating and installing new mechanism systems for banks to cope with the banking services development , and the necessity of linking with the Yemeni financial service company.
The attendees appreciated the efforts the CBY did and is still doing and the procedures and instructions it made which helped the banking sector to avoid the repercussions of the global financial crisis.