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.

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).

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.

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).

Mr. Ahmad Abdurahman Alsamawi, Governor of CBY, met Mr. Pier Morlova , the Regional Economic and Financial Consultant of the French Embassy in Emirates. During the meeting, they reviewed the bilateral relations between the two countries. The governor reviewed the economic and financial developments in the Yemeni  and the developments in the banking sector in 2009 from the repercussions of the financial crisis. He asserted that the banking sector was not affected by the financial crisis; he revealed the big results of the crisis on the real sector in our country especially under the decrease of oil revenues which represent more than 90 % of Yemen exports and about 70% of the public treasury resources. The French consultant pointed out that France is ready to present financial and technical assistance to support the reform efforts in Yemen. also  Mr. Ibrahim Alnahari, Sub-Governor of External Operations and Research Sector, attended the meeting.

Ahmad Alsamawi, the governor of the CBY, met with the World Bank's mission that supports the efforts of our country in applying the structural and institutional reforms headed by Andrew stone. During the meeting, they reviewed the existing relations with the Central Bank. The governor pointed out that the World Bank had a crucial role in supporting the reform efforts during the last period. He also confirmed that the CBY is ready to participate in the new program with the World Bank which focuses on strengthening and enhancing the latest development that was achieved and supported the CBY efforts in developing the Yemeni banking sector. Mr.Ibrahim Alnahari, Sub-Governor of External Operations and Research Sector, also attended the meeting.

On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.

upon the recommendations of the monetary policy committee; the board decides to increase the minimum interest rate for saving deposit in riyal to be 12 % 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 (1) for the year 2010 by the Governor of Central Bank of Yemen.Download Hear.

It is a pleasure for the Central Bank of Yemen to announce to the public the following:

In a meeting with the delegation of international monetary fund headed by Todd Scheneider ; Mr. .Ahmed al-Samawi ; the governor of central bank of Yemen confirm that Yemeni banks was far a way from the direct impact of the global financial crisis due to the limited operations and activities with the financial market abroad.

He also states that 95% of all Yemeni banks have raised its capital to the required level by central bank. In addition to that ; he pointed out of the banks orientation toward issuing Islamic bonds and what has been done of this regards.

His Excellency Mr. Ahmed al-Samawi ; the governor of central bank attend today the shura council headed by by its chairman mr. Abdul-Aziz abdul ghani to discuss the issues of foreign debt and the aid and foreign grant.

The governor assures that these loans and grants is been managed effectively with coordination between the central bank, ministry of finance and the ministry of planning.

The governor also pointed out that those foreign loans are being devoted for investment purpose not for financing government current spending. He also emphasize that government does not borrow at high rates

In a delegation headed by Mr.Ahmed al-Samawi – Governor of Central Bank of Yemen to Abu dhabi , the central bank participate in the 33th meeting of the board of governors of Arab Central Banks during the period 26-30 September 2009.

There are number of topics on the agenda specially the effects of global financial crisis and the steps that have been taken by Arab Countries to reduce its effects, in addition to that; the participants in the meeting will discuss the unified speech of Arab counties which will be presented during the annual meeting of IMF and WB for the year 2009.

By the beginning of August, central bank of Yemen will start implementation of a new mechanism for calculating the total Yemeni expatriate, including material

The central bank of Yemen yesterday sold in the local exchange rate market 205 million U.S. Dollar to meet the increasing demand for foreign currency to cover imports and as well as other foreign exchange needs in the market.

This intervention is consider the second this month and the fifth since the beginning of 2009. Worth mentioning; the aggregate interventions for this year up to yesterday has reached 676

In recent months, the Central Bank of Yemen(CBY) has witnessed intensive activities and notable efforts, in coordination with international financial organizations, which aimed to develop and streamline mechanisms of operations and systems of CBY in the areas of accounting and portfolio management to bring those to international standards. Efforts are also exerted to upgrade and strengthen the capacities CBY staff , especially those working in bank supervision sector and foreign operations sector. These activities come as part of achieving the contents of President Ali Abdullah Salah electoral program associated with the role of the bank in achieving the financial stability.

The Governor, Mr. Ahmed Al-Samawi confirm in his opening address for the Fourth Conference of the Banks and Islamic Financial Institutions in Damascus that Yemen has been expanding in the area of Islamic banking in annual growth exceed the world growth rate estimated at 10-15 %.

He emphasizes on the role of the Islamic banking in achieving economic growth , he indicates that Islamic banking in Yemen represent 30 % of total asset of banking sector and 27% of total deposits.

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.

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

Sponsored by his Excellency Mr. Ahmed Al-Samawi – Governor of central bank of Yemen, The Central Bank honored yesterday in Aden 130 of its retired employees from different governate . He confirm that those awarded employees are an ideal models of those really exist in Central Bank of Yemen . He emphasize on their role in achieving the goals of central bank while they were in duty which was characterized by tender, effort and sincerity.

His Excellency also give a lecture in Aden university about the global financial crisis and its impact on the Yemeni economy in particular and the recent development that recently witnessed in the banking sector . in addition to that , he demonstrate the actions and the procedures that have been done by the central bank in order to avoid any negative effect on our financial sector .FOR MORE DETAIL IN ARABIC PRESS <ARABIC>

Chaired by parliament speaker Mr . Yahya Ali alraai , the parliament approved in his session today numbers of amendments regarding the law of Islamic banks and approved the new law of microfinance banks .

Regarding the Islamic banking law , the amendment confirm that Islamic banks have the right to establish companies in various areas as a complementary to the core of its activities and also could establish subsidaries or sharing in an existing companies or new companies provided that their activities should be in compliance with Islamic rules and regulation .

With regards to the microfinance law , it authorize microfinance banks to provide banking service to families, small businesses and smaller projects in the urban and rural sectors in the republic . the law assures the role of the microfinance banks in achieving more economic growth and more social stability since it allow an equal opportunities especially to the targeted categories in the society . in addition to that , microfinance banks will contribute in reducing unemployment and poverty by focusing on the poor segments of society and toward self-reliance .

The Governor of CBY Mr. Ahmed al - Samawi have launch today the conference of bank risk management in a changing environment which is organized by the Yemeni association of banks and in collaboration with the International Finance Corporation (IFC). His Excellency speech includes the latest developments in the banking sector in Yemen and he demonstrates the important indicators of the banking sector. He also talks about the risks that face banks nowadays and how to manage it especially in an accelerating changes the world witnessed. For more detail of his speech which is available in Arabic , please press Arabic

The Minister of Justice Dr.Ghazi Alagabri along with the judges of the commercial court have approved yesterday to assign two expert judges to settle the cases relating to the banking sector since it helps banks to do its part in the process of development and investment in Yemen الخبر بالعربي

Mr. Ahmed Abdulrahman Al-Samawi have returned back to Sana’a after taking part in the conference of Arab finance ministers and central bank governors which held in the capital of Kuwait during the period 13- 15 January 2009.The Governor stated that the meetings discussed various subjects and 

The international rating agency, "Capital Intelligence" which located in Cyprus, with branches in various parts of the world announce raising the classification of Yemen in 2008 despite the challenges of the global financial crisis

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