Yemen International Bank denies bankruptcy rumors, reveals liquidity crisis beyond its control

Today, Saturday, the International Bank of Yemen denied what was circulated about its bankruptcy, and expressed its regret for the false rumors on social media, saying: "Their purpose is to tarnish the reputation and position of the bank."

He said in a statement - viewed by "Yemeni Youth Net" - "We at the International Bank of Yemen regret the false news and rumors being published on some pages and personal accounts on social media, which contain incorrect information."

He added: "The liquidity crisis that the bank is going through is due to reasons beyond its control and in which it has no hand. We are working in cooperation with the Central Bank of Yemen to resolve it as soon as possible and come up with urgent solutions. We expect the crisis to end by the end of this year."

The bank confirmed in its statement that it "owns assets and possessions exceeding one billion dollars, and its capital amounts to 46 billion riyals, the largest capital among banks operating in the Republic of Yemen."