Zemam, Hudramout businessmen discuss mechanism of open letters of credits for importing food stuffs

President al-Alimi discusses with Saudi Minister of Defense National Developments, Prospects for Promising Partnership

His Excellency President Dr. Rashad Mohammed al-Alimi, the Chairman of the Presidential Leadership Council, along with Council members Tareq Saleh, Abdulrahman al-Muhrrami, Dr. Abdullah al-Alimi and Othman Mujalli met Wednesday with His Royal Highness Prince Khalid bin Salman bin Abdulaziz, Minister of Defense of the sisterly Kingdom of Saudi Arabia.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

S. Korea's ITC exports rise 12.4 percent in 2025

South Korea's exports in the information and communication technology (ICT) industry rose 12.4 percent to a record high in 2025, due to strong demand from the artificial intelligence industry.

Morocco and Senegal qualify for the semi-finals of the Africa Cup of Nations

The Moroccan national team qualified for the semi-finals of the Africa Cup of Nations after defeating Cameroon 2-0 in their match at Prince Moulay Abdellah Stadium in the Moroccan capital, Rabat.

Last Update: ، 2026/01/15 Time 12:06:17
Latest News:

Foreign Minister Discusses with UN Resident Coordinator Enhancing Humanitarian, Development Cooperation

Chairman of Shura Council Discusses with European Union Ambassador Efforts to Support Peace, Stability ..

Governor of Taiz Discusses Emergency Measures to Address Water Crisis

Yemen Participates in 49th Session of Arab Youth and Sports Ministers Council in Cairo

Yemeni Military Heroes Laid to Rest in Marib Ceremony

Zemam, Hudramout businessmen discuss mechanism of open letters of credits for importing food stuffs

[08/11/2018 07:03]

ADEN-SABA
Governor of Central Bank of Yemen (CBY) Dr Mohammed Zemam held meeting Thursday with a group of businessmen and investors of Hudramout province.

The session intended to discuss the new mechanism the CBY has opted to ease and facilitate procedures to open letters of credits to import basic food stuffs which are being subsidized through the $2billion Saudi deposit.

The needed amounts of foreign currency to cover imports of basic stuffs which total costs less than $200 thousands were also addressed.

The businessmen cited obstacles they have faced as they submitted their applications for first and second payments the CBY offered.

Zemam stated that former troubles have been overcome and new easy mechanism has been adopted, can be accomplished within less than three days by the bank's staff.