Central Bank of Yemen rises minimum amount of the small finance banks' capital

Dep. Planning Minister, WFP discuss joint efforts to handle finances shortages

The Deputy Minister of Planning and International Cooperation Dr. Nazar Basuhaib and the Special Envoy of the World Food Program (WFP) Dr. Abdullah Brdat discussed today, Tuesday, in the temporary capital Aden, aspects of cooperation and coordination.

Bulgaria's Kozloduy Nuclear Plant Partners with 4 Universities to Train Future Staff

Kozloduy Nuclear Power Plant (NPP) - New Builds EAD signed framework agreements with four Bulgarian universities to collaborate on staffing future projects, attended by Energy Minister Zhecho Stankov and Education Minister Krasimir Valchev.

South Korea's exports rise 8.4 percent in November

South Korea's exports increased 8.4 percent last November compared to the earlier year, exceeding 61 billion US dollars, continuing their sixth consecutive month of growth, thanks to strong demand for semiconductors.

Croatia Qualifies for 2026 World Cup with Thrilling Win Over Faroe Islands

Croatia secured a spot in the 2026 World Cup in the United States, Mexico, and Canada after defeating the Faroe Islands 3-1.

Last Update: ، 2025/12/02 Time 01:59:17
Latest News:

Amb. al-Wuhyashi meets with Russian Deputy Foreign Minister

Foreign Minister confers with WFP Envoy over joint cooperation

Maritime Affairs Authority Discusses with European Nordic Support Foundation Enhancing Maritime Security

Al-Soqatri Discusses with Silah Foundation Projects Implemented in Agricultural, Fisheries Sectors

Leadership Council Member Al-Muharrami Meets State Security Chiefs

Central Bank of Yemen rises minimum amount of the small finance banks' capital

[07/01/2024 04:36]

ADEN - SABA
The Central Bank of Yemen (CYB) issued a decree stipulates that the minimum amount of the capital of each small finance bank which is licensed to operate in the Republic of Yemen shall be increased up to15 billion Yemeni Rial (YR).

The decree, which is published on the CYB's website, stressed that the concerned banks shall get the minimum amount completed within two years starting from 2024 provided that each small finance bank must get 50% of the required capital completed each year starting from this year 2024 and the deadline to get the amount completed is December 31.2025.

Under the decree those banks which obtained initial license from the CYB to operate as small finances banks should get required 50% increase of the capital completed before granting the final license and should get the remain increase completed during 2025.

The decree gave the concerned licensed bank the right to use their reserves after a written approval in advance by the CBY in order to fulfill the required minimum amount, otherwise no bank can get or maintain the license if it doesn't meet the provision of the minimum amount of the paid capital.