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President Hadi urges financial institutions to carry out their constitutional missions

[14/01/2018 02:17]

RIYADH-SAB
President Abd-Rabbu Mansour Hadi has stressed that financial institutions must undertake their constitutional duties, act professionally and responsibly." Financial institutions should activate their action in the technical, monitoring and supervisory domains. Private-owned banks and currency-exchange businesses need to be legally monitored and supervised by governmental authorities in order to maintain Yemeni Rial value and halt its devaluation", said the President.

President Hadi's statement came during his meeting on Sunday with the Minister of Finance Ahmed Obeid Al-Al-Fadhli and Governor of the Central Bank of Yemen Monassar Al-Qoaiti and his Deputy Abbas Al-Basha.

During the meeting the President was briefed on the financial and monetary situation in the country.

Al-Fadhli and Al-Qoaiti gave the President an overview on underway procedures have been taken to make use of the planned Saudi deposit. They also highlighted the important role of the Saudi monetary institution in supporting Yemen and its legal leadership.

President Hadi deeply appreciated Saudi Arabia Kingdom's role and support for Yemen in different fields and times. Most recent pledges of support represented in the outcomes of Hadi's meeting with the Crown Prince, Deputy Premier, Minister of Defense, His Royal Highness, Emir Mohammed bin Salman. a

President Hadi urged the minister of finance and governor of the Central Bank of Yemen to directly supervise over financial and banking business in the interim capital Aden and to coordinate with the government's authorities in order to work out the necessary solutions that can help maintaining the value of national currency.