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Latest News:
Minister of Transport: Houthi Attack on al-Mokha Port Resulted in Deaths, Injuries, Significant Material ..
United Kingdom Affirms Support for Yemen and Saudi Arabia in Confronting Aggression by Houthi Militias
President al-Alimi: Targeting al-Mokha Port Demonstrates Militias' Systematic War on Yemeni People's ..
Kuwait Reaffirms Support for Yemeni Government, Praises UN Security Council Commitment to International ..
Government Condemns Houthi Attack on Makha Port in Strongest Terms, Vows to Protect Vital Facilities
Latest News:
Minister of Transport: Houthi Attack on al-Mokha Port Resulted in Deaths, Injuries, Significant Material ..
United Kingdom Affirms Support for Yemen and Saudi Arabia in Confronting Aggression by Houthi Militias
President al-Alimi: Targeting al-Mokha Port Demonstrates Militias' Systematic War on Yemeni People's ..
Kuwait Reaffirms Support for Yemeni Government, Praises UN Security Council Commitment to International ..
Government Condemns Houthi Attack on Makha Port in Strongest Terms, Vows to Protect Vital Facilities
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 -
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