The Yemen Central Bank is planning to blacklist 58 trade and exchange companies after they failed to live up to their financial liabilities for commercial and investment banks in Yemen and outside Yemen

Sources told the Economist, the bank is serious about taking legal measures against the companies. The bank previously turned over a number of companies which could not reform their financial situations to the judiciary, the sources said, adding the companies then received verdicts after missing a deadline to do necessary reforms. The bank also intends to release the names of the 58 companies in the media. Stocks are hitting record amid the increasing number of exchange companies working in Yemen, with the bank considering law amendments to guarantee clients and company rights. A new report by the bank noted the number of the exchange companies in Yemen rose to 528.