Yemen’s south: the Central Bank announces bankruptcy

YemenExtra

Y.A

The Central Bank of Yemen apologized in Aden ,Wednesday ,for the second time in a week for not providing financial and banking services due to lack of cash.

The newspaper “Aden Al Ghad” quoted from officials of the Central Bank of Yemen, saying that “the operations of the bank stopped completely and the bank apologized for any procedure Which resulted in the bank’s financial services being severely paralyzed by a number of government and private institutions in Aden and other governorates and the rise of exchange rate to  493 riyals for sale and 495 riyals for purchase in the parallel market.

The Hadi government , the fugitive president’s government, accuses the United Arab Emirates of holding 170 billion riyals of the printed currency in Russia which was provided to the port of Aden via container vessels, but the UAE prevented its transfer to the central bank without any justification.

Yemen’s south is under the control of the Saudi-led coalition after it Yemeni joint forces withdrew from it as a result of fierce clashes .