The banking sector in Yemen .. successive crises under difficult circumstances

The crisis of the banking sector in Yemen intensified in an economic context aggravated by the war of more than three years.
The difficult situation of the sector has forced the majority of Sanaa cashiers to threaten to close their businesses. Yemen is witnessing a violent war between government forces loyal to President Abed Rabbo Mansour Hadi, supported by Arab coalition forces led by Saudi Arabia, on the one hand, and the "Houthi" militants on the other hand.
Observers, violations began against cashiers with h The Al-Houthi group's national security service on foreign exchange companies to confiscate funds from the new monetary categories printed by the Central Bank in Aden, the interim capital (south from the country).
The Yemeni government has directed large amounts of money without monetary coverage To cope with the liquidity crisis, exacerbate economic crises and threaten to further reduce the riyal against the dollar.
In 2017, the Yemeni government printed 600 billion Yemeni riyals through the Russian company "Goznak". For lack of liquidity.
But the Houthis, see that the edition Of the two categories of A and R 500, printed without foreign exchange insurance, causing the collapse of the riyal, and the price of a dollar to more than 500 riyals, after that it was equal to 280 riyals, before the transfer of the central bank to the city of Aden. The Sana's Central Bank in Aden in September 2016, by a decision of the Yemeni President, after the Houthis looted the estimated $ 4 billion cash reserve when they took control of Sana & # End of 2014.
** Lack of criticism
For Anatolia, elements of national security conducted campaigns against foreign exchange companies and confiscated new categories of liquidity.
The source adds:
The source points out that trading companies refrain from trading the new monetary categories in accordance with the Houthi's earlier guidelines, but the lack of criticism on the part categories "They allowed these currencies until the market was filled, and suddenly I was banned, why and how does nobody know ?, Even if their justification does not make sense, only increases Yemeni troubles suffering from war, poverty, high prices and crises (19459003) Confiscation of funds
For its part, says the cashier (SA), that the Houthis have confiscated money from exchange companies, and says that they will harbad them to prevent circulation, until the problem is solved, and replace the old ones "After a few days, we went at the headquarters of national security in Sanaa and we we asked that our money be repaid, but they refused because the problem still existed and we would threaten the national security of the country by dealing with these species. "
He explained that dozens of exchange companies, threatening to close Houthis say that these measures against the new monetary groups limit the Yemeni riyal collapse against foreign currencies, but the local currency is still falling to large levels.
** The destruction of money
One of the cashiers said in another interview with Anatolia: "The Huthis campaign continues against our companies, most cashiers find themselves in front of a real war and systematic looting of people's money after the Houthis. "
"We can not stand before this war, the capital is cowardly, there is trouble
He added:" The situation in some foreign exchange companies, the destruction of money of the new clbades money by force, so as not to be confiscated by the Houthis on their own account, and this is caused by "The operation does not mean to prevent the circulation of these categories of cash only in the market, to prevent the collapse of the Yemeni riyal, but today, she allowed to trade, but the operation targeted the banking sector and looted money from foreign exchange companies. "
** Necessary Actions
said the Deputy Minister of Finance in the Houthi Government (Unrecognized), Hashim Ismail Ahmed, that the printing of new monetary categories, was the cause of economic shocks and the devaluation of the local currency.
According to the agency "Saba" Huthi version, the deputy minister warns "citizens, traders,
He adds that these actions against the banking sector," the necessary measures to deal with the plans of Aggression of mercenaries to manipulate the national economy, cause economic collapse and increase the sufferings of citizens. "(Anatolia)