Middle-east Arab News Opinion | Asharq Al-awsat

Houthis Want to Establish an Illegal Bank to Legalize Corruption | ASHARQ AL-AWSAT English Archive 2005 -2017
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Houthi rebels- Reuters

Jeddah – Yemeni security sources revealed that Houthis are illegally trying to establish an investment bank in Sanaa to legalize the corrupted money.

Based on documents, which Asharq Al-Awsat newspaper received a copy of, Houthi groups in Ministry of Interior are moving towards embezzling 61% of the ministry’s budget, under the pretense of establishing a bank.

The statement issued on June 12 said that it is the duty of the administrative to find new additives that can be useful for his administration, otherwise he is considered an unsuccessful leader.

The statement then went on to suggest the ministry form an Islamic Investment Development Bank.

Speaking to Asharq Al-Awsat newspaper, Head of Financial Department of the Higher Economic Committee at the National Dialogue Conference Mohammed Hussein Halboub said that the ministry is suffering from a financial crisis. He added that there are thousands of pseudo soldiers in the ministry who receive their salaries.

Halboub explained that the ministry replaces one recruit in the Central Security with another who receives his salary, and who may or may not exist.

Halboub said it would be difficult for the bank to succeed amidst the financial crisis, for that requires a comprehensive reform.

According to Halboub, funds from the social security and the ministry of finance do not suffice for investments, thus the timing is wrong. He added that there are about 168 thousand employees in the ministry, but only 100 thousand are in office. He went on to say that Houthis have taken over the ministry and want to legalize corruption.