NYN | News
Sana’a continues its efforts to maintain stable exchange rates and the stability of the Yemeni rial, through regulatory measures aimed at controlling the currency exchange market and enhancing monetary stability in the country.
On Monday, the Yemeni Exchange Association, under instructions from the Central Bank of Sana’a, issued an official circular to halt all financial and technical dealings with nine local exchange companies, due to their violations of the Central Bank’s directives.
According to the circular, issued on 9 Shawwal 1446 AH, corresponding to April 7, 2025, the companies affected by the suspension are:
- Al-Raed Exchange Company
- Al-Balad Exchange Company
- Awlad Amin Saleh Exchange Company
- Al-Nahmi Exchange Company
- Bin Hazam Exchange Company
- Ali Jalham Express Exchange Company
- Al-Tanmia Exchange Company
- Al-Amir International Exchange Company
- Al-Hazmi Exchange Company
This measure is part of the Central Bank’s efforts to regulate the exchange industry and ensure that all companies comply with the applicable instructions and regulations, contributing to the preservation of financial stability and preventing any practices that could harm the banking sector.
The Exchange Association has called on all exchange establishments and local remittance networks to adhere to the circular and immediately cease transactions with the listed companies until further notice from the competent authorities.
The Central Bank of Sana’a is committed to monetary stability, enhancing the integrity of the financial system, and ensuring a secure and stable banking environment that supports the national economy, which was the primary motivation behind this regulatory step.
