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Central bank warns banks that pushes depositors to convert deposits to foreign currency
[The Source: sana'a/hadhramaut.info/sabanews.net - 12/02/2010]
Central bank governor Ahmed Abdel Rahman Al-samawy warned those banks that encourage or push customers to convert their Riyal deposits to dollar.
He confirmed this in the annual meeting convened by the World Bank in Sana'a yesterday with the heads and General managers of banks operating in Yemen. Central Bank of Yemen will take action against banks that will be seen doing such actions, given that type type of impact and effects will have on the Yemeni economy as a whole.As noted most of the banks that have completed raising their capital to six billion riyals. We warn those who have not completed the process of lifting up, the central bank will take necessary law action against them. .
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