Lahj.. Central Bank branch closes a number of unlicensed and violating exchange facilities

Today, Tuesday, the branch of the Central Bank of Yemen in Lahj Governorate closed a number of exchange facilities that violated the process of buying and selling local and foreign currencies in the Yafi and Al-Muflehi directorates, for not officially obtaining licenses to practice the profession from the bank branch in the governorate in southern Yemen.

The Director of the Central Bank of Yemen branch in Lahj Governorate, Mamdouh Al-Shaabi, explained in a statement that the campaign carried out by the bank branch, in cooperation with the security services, took place after completing the legal seizure procedures, from the Public Funds Prosecution in the governorate, and in implementation of the directives of the Attorney General of the Republic, the leadership of the Central Bank of Yemen, and the local authority in the governorate.

He pointed out that the campaign will continue until it achieves all its objectives, in contributing to achieving the country's economic stability and the bank's monetary policy, stressing the importance of the commitment of exchange establishments in Lahj Governorate to the laws in force related to the mechanism of practicing the exchange profession, by their owners going to the Central Bank branch in the governorate, to correct their legal status and complete the conditions, controls and standards binding on them from the Central Bank, and obtain their licenses from it, and implement its sovereign decisions.

Al-Shaabi praised the combined efforts of the bank branch employees, members of the Public Funds Prosecution Office in the governorate, and members of the security services in the two directorates, who supervised the success of the campaign to close the violating exchange facilities.

This comes as the Yemeni riyal continued to decline today, Tuesday, to its lowest level against foreign currencies, as the exchange rate of one US dollar reached 2050 riyals in the purchase process, and 2064 riyals in the sale process.