What happened between the resignation of the bank governor and his reinstatement

- It is certain that the Governor of the Central Bank, Ahmed Ghaleb Al-Maqbi, was brave enough to submit his resignation in defense of his sovereign decisions that he issued months ago regarding banks and banks..

The date of the resignation, as is clear in his letter, dates back to July 17 - meaning that it was almost immediately after the appearance of leaks indicating that the Presidential Leadership Council intends to rescind the bank’s decisions, in reference to the memorandum of the UN envoy to Yemen, Hans Grundberg, to the Council, on the 11th. From this month of July, which is also said to have come at a Saudi instruction to the envoy, under the pretext of calm in order to preserve the path of the peace map that it supports, and represents the summary of its bilateral understandings with the terrorist Houthi militias..!!

Since then, it seems that the bank governor has remained committed to his decisions, and the Kingdom even summoned him early for discussion, but he did not respond directly, and it was said that he “dithered,” and only two days ago it was learned that he had arrived in Riyadh, according to what journalist Abdullah Doblah leaked on his program. From the end” on the “Yemen Shabab” channel. According to the leaks, it is believed that the governor was placed under house arrest upon his arrival in Riyadh. Although there are those who deny it, the course of events and their recent outcome may suggest that this actually happened. Also, there has been no denial from Al-Maqbaqi himself yet..!!

- today; The UN envoy announced that an agreement had been reached between the government and the Houthis to cancel the recent decisions and actions of the Central Bank. They focused on the word “cancellation”, while the first UN envoy’s memorandum (submitted to the Presidential Council on July 11) had called for nothing more than “postponing” the implementation of the decisions until the end of August, and not “cancelling” them completely..!! The question here is: Who has now granted it the status of “cancellation”?

- But more than that; The UN envoy's latest statement also mentioned: The new agreement not only stipulates an agreement to cancel the bank’s decisions...etc., but also: “and to stop any similar decisions or procedures in the future”..!! He also linked the discussion of all economic and humanitarian issues “based on the road map,” which makes the bank’s future decisions governed by Saudi Arabia’s agreements with the Houthis..!!

- also; If we go back a little to read the position of the Presidential Council, through its response to the first UN envoy’s memorandum (July 11), in its meeting held the day after the envoy’s message, we find that the Council was insisting on its adherence to three specific main conditions, in any dialogue about... The bank’s decisions, the first of which were: its adherence to “resuming oil exports.” But this condition was completely ignored in the new agreement announced today by the UN envoy..!! The question here, too, is: Why, and how, did our government agree to waive this condition? Despite the fact that this causes her to lose millions of dollars every day?

Today, in conjunction with the controversy surrounding the UN envoy’s announcement of this new agreement, the Central Bank Governor Ahmed Ghaleb Al-Maqqi’s resignation letter, dated to a previous date (07/17/2024), was leaked.

Amid the chaos and turmoil witnessed on social media regarding the validity of this resignation or not, statements by an “official source” in the presidential office, to the government agency Saba, quickly resolved this controversy, by confirming that the Council “unanimously” rejected the resignation of the bank governor, and insisted on his return to his position. .!!

This, in addition to confirming that the governor’s resignation actually occurred, implicitly reveals to us the amount of pressure that the governor was subjected to in order to retract his resignation. All of this took approximately two weeks (from the first letter of the UN envoy, and the immediate aftermath of the Presidential Council meeting and his approval of the dialogue regarding retracting the bank’s decisions, all the way to this official announcement today retracting them). While all of this could have been shortened to three days, after the Presidential Council meeting (on July 12), if there was no rejection and objection from the bank governor.

The question is: Since the Presidential Council rejected the governor’s resignation, submitted to it on July 17, why did it not announce it at the time? Or rather: Why did it take a whole week for the Council to tell us, just today, that it rejected the governor’s resignation? The logical answer to the question is: This explanatory statement, by the responsible source in the presidency, came out of necessity, as a natural response to the leak of the governor’s resignation today.

This, in turn, leads us to ask: Why was the resignation leaked today, even though it was issued about a week ago? The most likely answer here is: today’s leak of the resignation came in response to the UN envoy’s announcement that an agreement had been reached to cancel the bank’s decisions.

And with the campaign; All of these sequential questions, and their answers, all lead us to the fact that the governor did not agree to retract the bank’s decisions. Perhaps bringing the government on his behalf to sign the new agreement also indicates that the governor continued to refuse until the end, and the leak of his resignation also came in this same context.

Taking into account all of the above, the presidential official’s statements regarding the governor’s refusal to resign reinforce the fact that the man was subjected to intense pressure to accept a forced return to his position. Which would turn the leaks that he was placed under house arrest in Riyadh into an almost certain fact.

It is clear that the occurrence of all this rapid series of events, today, after weeks of stagnation and suffocation, was inevitable, in order to produce this farce, which could not have come out better than this (improved) image. Some argue that the Presidential Leadership Council could have passed the new agreement without even having to reject the governor’s resignation. Although this is true, its result would not have been in this forcibly improved manner. This is because accepting the resignation in such a critical situation would likely constitute a double embarrassment, perhaps more humiliating than its current form, for the Presidential Council and the government, and certainly behind them the Kingdom of Saudi Arabia, the main exit from this agreement (UN envoy Grundberg made sure in the statement he issued today , noting “the important role played by the Kingdom of Saudi Arabia in reaching this agreement.”

Returning to the way the presidency dealt with rejecting the governor’s resignation, the government news agency (Saba) quoted what it described as “a responsible source in the office of the Presidency of the Republic” - after confirming that the Presidential Council had unanimously rejected the resignation of the governor of the bank - as saying: The bank governor “rescinded his decision.” Resignation, while he remains in his position with the full support of the Leadership Council and the government to continue comprehensive banking reform efforts supported by our brothers and friends..!!

In addition to the coercive implications that these statements carry about the governor rescinding his resignation, the fact that this matter was not brought out through brief statements by “an official source in the Office of the Presidency of the Republic,” and not an official statement by the Presidency, also carries negative implications: either there is pressure on the governor. If the contents of these statements are true at all. Or the governor is still unable to say anything yet in light of the rumors about his (possible) placement under house arrest.

The question that imposes itself now: Since the issue is related to the rejection of his officially published resignation, would it not be better, here, for the governor himself to provide a similar official clarification of this ambiguous situation, with its dangerous national dimensions? Otherwise, the most likely explanation is that the man still refuses to return, and that the statements of the “responsible source” may have come to put him in front of a fait accompli..!!

any way; Whether the governor’s retraction of his resignation came under pressure and coercion, or as a result of his voluntary compliance with the Presidential Council’s decision to reject his resignation, and his acceptance of that as a professional government employee who must implement it without discussion... However, what arouses more pity and cynicism is the source’s talk about “full support.” From the leadership and government council to the governor after his return to office..!!

This is another sarcastic caricature, added to the dozens of mockeries and successive blows that the officials of legitimacy inflict on us without responsibility..!! What support is the Council talking about? The public wonders, after this resounding scandal, which has turned into a wide-open mockery party on social media from the Council of One (+7), as some like to call it as a form of sarcasm..?!

Is there anything that can be supported, after this “humiliating” betrayal, of the first ever governor with just a little courage and strength, so that he turns into a popular icon, from whom those oppressed by war and crushed by the deteriorating economy draw some hope in the strength of the state and the government, in the face of the arrogance and intransigence of criminal coup militias that have never hesitated? Stop exploiting every opportunity to humiliate us, in light of the weakness and submissiveness of a despicable government that has no limits..!!

At the beginning of his statement yesterday, the UN envoy said that he had received a written text that he “received” from the two parties (the Yemeni government and the Ansar Allah group) that included four points, the first of which was: “cancel the recent decisions and measures against the banks on both sides, and stop any decisions or measures in the future.” Similar"...

Well, for God’s sake, how will the bank governor return to his work, “to continue comprehensive banking reform efforts,” “with the full support of the leadership council and the government,” after you stripped him, under the new agreement, of his right to issue any future decisions (that the militias do not like)? Or, to put it metaphorically: after receiving the “pinch in the ear” that erring children receive..!!

But, wait: who made a mistake? Yes, the wrong person's ear may have been "pinched." Or this is what it appears to the viewer at first glance. As for the truth that you know well, it is: everyone was subjected to a “pinch” in his ears, from the prince, to the ambassador, to the president and his seven deputies, to the government and its ministers, to the governor, all the way to the poor citizen who believed in his dream of the possibility of restoring the state, “if only He has men with him..!