Central bank approves new regulations money exchange business

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Central bank approves new regulations money exchange business

[04/08/2021 12:33]

ADEN – SABA
The Central Bank of Yemen has approved new regulations money exchange business in all governorates of the Republic.

The Aden-based bank's new procedures will lead to addressing some of the shortcomings: improve the activity function of money exchange businesses, develop their performance, raise their efficiency and level of discipline, reduce the risks associated with the business, and contribute to achieving monetary and financial stability.

The regulation set strict conditions for new money exchange investors applying for licenses to enter the business, by stipulating that a number of general eligibility conditions be met including the submission of economic feasibility studies.