NYN | News
The Central Bank of Aden has called on individuals, merchants, companies, and institutions to refrain from keeping any bank deposits with money exchange companies and institutions, stressing that these entities are only licensed for the buying and selling of foreign currencies and money transfers.
In an official statement, the bank emphasized that banks, in all their forms, are the only legally authorized entities to open and maintain bank accounts and investment deposits.
The bank also urged everyone to verify the licenses issued by the relevant regulatory authorities before dealing with any financial entity, warning of the risks associated with dealing with unlicensed organizations that may put depositors’ funds at risk.
This comes amid the latest attempt to save the bank from collapse, in the context of the chaotic policies pursued by the internationally recognized government, which has led to the spread of corruption within state institutions, negatively affecting the lives of citizens who are facing a severe economic crisis, amid the collapse of the local currency and unprecedented price hikes.
