THE GOVERNOR CONFIRMED ON THE ROLE OF THE MICROFINANCE BANKS ON ECONOMIC GROWTH
In A seminars organized by the center of studies and economic information and the banking magazine issued by CAC Bank , The Governor of the central bank of Yemen Mr. Ahmed Abdulrahman Al -samawi delivered a speech on the importance of the microfinance banks . He emphasized on the role of the microfinance banks in accelerating the economic growth and reducing the poverty and unemployment. He also confirms that the risk is limited in these microfinance banks since its loans are very small and the percentage of default is small if it its compared to commercial banks.
The Governor pointed out that Central Bank of Yemen have trained a team of employees specialized in monitoring microfinance banks in cooperation with the German GTZ.
In his final statements T he Governor shed some light on the recent development in the banking sector