CYB: Only banks can offer electronic payment services
The Source: English.hadhramaut.info/SABA News Online | Saleh Ahmed - Tuesday 17 / Dec. / 2020
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The Central Bank of Yemen (CYB) in Aden said" The CYB is the only authorized body to issue monetary and gives licenses to offer electronic payment, and the decree issued recently by the branck of the CYB in Sana'a about authorizing certain financial institutions identified by Sana'a branch to offer electronic payment service via mobile is a decree issued by an authority isn't legally entitled to do so, thus there is no law about regulizing these financial institutions' action, nor there is legal framework allows institutions otherwise the banks to offer such services".
Thereby, establishing financial
institutions outside the law to issue electronic currency without
restrictions and coverage is considered to be legally annuled will cause
distrust among the public and create inflationary pressures upon
national economy.
In a statement the Yemeni News Agency (Saba)
learned, the CYB called on the banks to offer electronic payment
services given that they are the authorized financial institutions to do
so in accordance with the laws and regulations in effects.
The
CYB stated that the banks should get the licenses to provide electronic
payment from the hadquarters of the CYB in the interim capital Aden.
The
CYB warns everybod that any decrees or instructions are issued by the
branch of the CBY in Sana'a should never be dealt with.
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