Marib authorities to shut down unlicensed money exchange businesses

Minister of Civil Service meets with U.S. Ambassador

The Minister of Civil Service and Insurances Salem al-Awlaqi met today, Tuesday, with American Ambassador to the Republic of Yemen Steven Fagin.

Arab League Calls for Confronting Rising Anti-Muslim Hate

The Arab League on Sunday called for intensified international efforts to confront the growing phenomenon of hate speech and discrimination against Muslims in order to prevent deeper divisions among religions and cultures.

Oil price tops $100 a barrel

Oil prices jumped above $100 per barrel today, Monday, as the U.S. Navy prepares to take control of ship movements in the Strait of Hormuz.

Inter Milan a win away from Serie A title

Inter Milan continued its successful march to reclaim the Italian football league title, despite drawing with its host Torino (2-2), in the conclusion of the 34th round of the competition.

Last Update: ، 2026/04/28 Time 05:39:14
Latest News:

Planning Minister meets with German Ambassador

Minister of Public Works Discusses with UNOPS Ways to Enhance Support for Road Projects

Transport Minister Discusses with U.S. based Valar Company Mechanisms to Develop Aviation Security, Qualify ..

Al-Subaihi Stresses Importance of Enhancing Performance of Ministry of Youth and Sports

Governor of Taiz calls for furthering EU interventions to put governorate economic plan in place

Marib authorities to shut down unlicensed money exchange businesses

[04/08/2018 02:09]

MARIB-SABA
A committee chaired by the Deputy Governor of Marib province, Dr. Abd-Rabbu Miftah has approved a plan to shut down unlicensed money exchange business in line with a decision from the Central Bank of Yemen.

The plan, approved by a local government panel will refer exchangers operating without licenses to court.

"This decision of the Central Bank, albeit late, is important in order to preserve the value of the Yemeni currency and the Yemeni economy which are collapsing due to the unfair and illegal speculation with the national currency against foreign currencies," said Miftah.

The recent dramatic devaluation of the Yemeni riyal caused a mad rise in the prices of all basic commodities worsening the already severe humanitarian crisis in the country.