RESOLUTION NO.(2) FOR THE YEAR 2009 REGARDING REDUCING INTEREST RATE AT BANKS
The boards of director have met yesterday to review the last financial, economic and monetary developments. And approved the financial statements of the audited accounts of the Bank issued by an independent auditor for the ended fiscal year 31/12/2008.
The board also reviewed the last developments of the inflation rate in the domestic market. The data indicate that the inflation rate have reduced to less than 3 % at the end of March 2009 on an annual basis.
Within this framework and upon the recommendations of the monetary policy committee; the board decides to reduce the minimum interest rate for saving deposit in riyal to be 10 % while leaving the interest rate for the other various kind of deposits to be determined by banks as long as not exceeding the minimum rate ceiling defined by the central bank of Yemen. Issued in this regards the resolution no (2) for the year 2009 by the Governor of Central Bank of Yemen.Download Hear.