Marib authorities to shut down unlicensed money exchange businesses

Coast Guard seizes two boats suspected of human trafficking

The Coast Guard Authority has successfully seized two traditional boats that were loaded with large quantities of fuel stored in plastic containers, in clear violation of maritime laws and regulations.

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.

Italy budget deficit at 3 percent

Italy recorded a deficit in its general budget of 3.1 percent of GDP in 2025, thus exceeding the ceiling set by the European Union at 3 percent.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/04/12 Time 10:06:47
Latest News:

Minister of Electricity discusses with Advisor to UN Envoy electricity problems

President al-Alimi: Houthi militia’s hostile approach makes regaining state institutions priority

Prime Minister discusses strengthening bilateral relations with Dutch Ambassador

Minister of Transport discusses with Advisor of UN Envoy transportation businesses

Musawah Organization: Houthi Militias Kidnap 9 Civilians in Dhamar in 24 Hours

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.