Yemen : Banks Ordered To Move Headquarters From Houthi-Controlled Capital

  • 2024-04-03 10:47:00

The Central Bank of Yemen (CBY), yesterday, gave all banks operating in the country a 60-day deadline, to move their headquarters from the Houthi-controlled capital, Sanaa, to the country's southern port city of Aden.

In a decision announced on the bank's website, CBY Governor, Ahmed Ghalib, warned that any banks defying the order will face potential legal action, under Yemen's anti-money laundering and counter-terrorism financing laws.

This exposes the financial institutions headquartered in Sanaa to risks, including asset freezes and severance from the global banking system, Ghalib stated.