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

The Member of the Presidential Leadership Council and Governor of Marib governorate Sultan Arada inaugurated today, Sunday, a number of development projects in public works, sanitation and urbanization funded by the local authority as part of ongoing efforts to enhance services and improve the urban landscape of Marib city.

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).

China's ETF market hits record $855.6

The combined scale of China's exchange-traded funds (ETFs) has hit a record 6.02 trillion yuan ($855.6 billion), up more than 2.2 trillion yuan from the end of last year, Shanghai Securities News reported Saturday, citing data from Choice, a financial information provider.

Arsenal defeats Brighton and strengthens its lead in the English Premier League

Arsenal defeated Brighton 2-1 in their match at the Emirates Stadium as part of the 18th round of the English Premier League.

Last Update: ، 2025/12/29 Time 08:40:04
Latest News:

Yemen Participates in Emergency Arab League Meeting to Reject Israeli Recognition of "Somaliland" Region

Yemeni Community in Saudi Arabia Backs National Defense Council Decisions

Political Parties Welcome Message of Saudi Minister of Defense

The Deputy Minister of Foreign Affairs Discusses with Korean Ambassador Ways to Enhanc Cooperation

Deputy Minister of Planning Discusses with United Nations, Red Cross Enhancing Coordination to Support ..

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.