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yemen central bank will not hesitate to cover market needs of foreign currency when its needed
26/5/2010
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* Inflation seen at 8 pct in 2010, 2011
* Yemen central bank reserves at $6.1 bln vs $7.0 bln a year ago
* To hold interest rate steady at 20 pct for now
Yemen's central bank will not hesitate to intervene again should there be a repeat of a recent tumble in the Yemeni rial, caused by the country's security troubles hurting sentiment, the governor said on Tuesday.
The bank has injected some $850 million -- around 15 percent of its reserves -- into the market in 2010 to support the impoverished Arab country's currency, which has fallen by about 8 percent against the dollar since the start of the year.
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New CBY vice governor appointed
27/4/2010
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SANA'A, April 27. A republican decree No. 87/2010 was issued on Tuesday. The decree stated appointment of Prof. Mohammed al-Rubidi as a vice governor of Central Bank of Yemen (CBY).
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Decrees appointing new CBY governor, Shura member
21/4/2010
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The republican decree No. (78) for 2010 was issued on Wednesday appointing Mohammed Awadh bin Hamam as a governor of Central Bank of Yemen (CBY).
The presidential decree No. (8) for 2010 was also issued assigning Ahmed Abdul-Rahman al-Samawi as a member of Shura Council.
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Ministy of Finance Enhence its Capacity By using SWIFT and in Coordination with CBY
30/3/2010
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The Ministry of Finance recently approved an electronic disbursement system that will be dedicated to disburse funds from loans and grants allocated by international donors. The new system, fully developed by a Yemeni team, is called Loans and Grants Management Information System (LGMIS).
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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.
11/2/2010
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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.
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