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2026/10/13
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Latest News:
President al-Alimi: Ending Houthi Terrorism, Irrevocable Decision
Yemen’s Ambassador Discusses Latest Developments with Austrian Parliament President
Presidential Leadership Council Warns Against Collaboration with Houthis, Orders Legal Action
High Committee Approves Methodology for Updating and Developing National Disability Strategy for 2027–2032
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Central Bank announces implementation of the international system (IBAN)
[11/12/2024 05:59]
ADEN - SABA
The Central Bank of Yemen announced Wednesday the start of the actual implementation of the International Bank Account Number (IBAN) system.
This announcement came during an extensive meeting organized by the General Administration for Payment Systems at the bank, with the participation of representatives from commercial and Islamic banks operating in the republic.
During the meeting, the Deputy Governor of the Central Bank Dr. Mohammed Omar Banajeh highlighted the bank's interest in keeping up with global banking developments through support from the U.S. Agency for International Development (USAID).
He explained that the activation of the financial and banking performance system for Yemeni banks internationally aligns with the Central Bank of Yemen's plan and strategy to strengthen the financial inclusion program in Yemen, ensuring that banks operating in the Yemeni banking market comply with international financial and business standards, specifically ISO 13616.
Dr. Banajeh pointed out that the International Bank Account Number is characterized by the accuracy of banking transfers and the speed of execution at lower costs, which minimizes copying errors and avoids delays in executing electronic payments.
The Central Bank of Yemen announced Wednesday the start of the actual implementation of the International Bank Account Number (IBAN) system.
This announcement came during an extensive meeting organized by the General Administration for Payment Systems at the bank, with the participation of representatives from commercial and Islamic banks operating in the republic.
During the meeting, the Deputy Governor of the Central Bank Dr. Mohammed Omar Banajeh highlighted the bank's interest in keeping up with global banking developments through support from the U.S. Agency for International Development (USAID).
He explained that the activation of the financial and banking performance system for Yemeni banks internationally aligns with the Central Bank of Yemen's plan and strategy to strengthen the financial inclusion program in Yemen, ensuring that banks operating in the Yemeni banking market comply with international financial and business standards, specifically ISO 13616.
Dr. Banajeh pointed out that the International Bank Account Number is characterized by the accuracy of banking transfers and the speed of execution at lower costs, which minimizes copying errors and avoids delays in executing electronic payments.
Key words:
representatives - internationally - implementation - Administration - International - characterized - international - participation - developments - specifically -
Ministry of Social Affairs Issues Urgent Humanitarian Appeal over Deteriorating Conditions in Taiz
President al-Alimi: Ending Houthi Terrorism, Irrevocable Decision
Yemen’s Ambassador Discusses Latest Developments with Austrian Parliament President
Presidential Leadership Council Warns Against Collaboration with Houthis, Orders Legal Action
High Committee Approves Methodology for Updating and Developing National Disability Strategy for 2027–2032
Ministry of Agriculture Signs MoU with WFP to Boost Food Security in Yemen
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