NYN | News
The Southern Money Exchange Union has warned about the ongoing accumulation of forgotten and delayed money transfers in exchange networks across Aden, stating that this phenomenon worsens the suffering of citizens and allows network owners to unfairly benefit from unclaimed funds.
In a statement posted on its official Facebook page on Monday, the union noted that exchange networks in Sana’a had already begun disclosing forgotten and delayed transfers—an initiative it praised as positive and urged Aden-based networks to follow suit, as it directly helps protect citizens’ rights and reduce exploitation.
The statement emphasized that suspended transfers are not legitimate profits, but rather entrusted funds that must be returned to their rightful owners. It cited several reasons behind the accumulation of these transfers, including:
Lack of accurate phone numbers for recipients
Frequent suspensions of exchange networks by the Central Bank in Aden
Freezing of unclaimed funds after 15 days
Weak regulatory oversight
Technical or human errors
These issues often lead to disputes between traders and citizens, with funds being withheld and used for private investments.
The union revealed that the number of suspended transfers has surpassed 300,000, including around 200,000 transferswithin currently operating networks such as:
Al-Kuraimi Bank, Al-Muheet Al-Muraissy, Al-Qutaibi Lhzath, United Money Network, Aden Hawala, Aden Bank, Bin Dawl Bank, Al-Basiri Bank, Al-Shumoul Bank, Al-Sharq Bank, Tamkeen Bank (Al-Muraissy), Hala Bank (Al-Qasimi), Al-Inma Bank, Al-Omqi, and Hadramout Bank
In addition to previously suspended networks, including:
Al-Qutaibi, Aden, Al-Thahabi Al-Urwi, Al-Ei’timad, Al-Haddad, Al-Salahi, Saba Al-Umana, Al-Basiri, Al-Inma, Abu Sanad, Al-Turaihi, Sharjah, Al-Saifi, Al-Muflihi, Tawasul Al-Baydani, and Al-Shamil
The union stressed that the issue of forgotten transfers is an urgent humanitarian and economic matter, as thousands of families are deprived of their rightful funds amid difficult living conditions. Many people depend on these remittances to cover medical expenses or daily living costs, making this a priority issue that requires serious and transparent intervention from monetary authorities.
