Middle-east Arab News Opinion | Asharq Al-awsat

Government Ends Insurgency Domination over Yemen’s Central Bank, State Trade Account Set Up in Aden | ASHARQ AL-AWSAT English Archive 2005 -2017
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Yemeni government takes measures after Houthi-caused national recession, E.P.A.

London, Aden- Yemen’s Houthi-led insurgency strangling the war-torn country’s economy, forced counteractive measures to be taken by the legitimate government.

A basket of procedures concerning fiscal transactions which inhibit the insurgency’s ability to compromise the state Central Bank in Sanaa had been put into effect.

Sanaa’s Central Bank fell into insurgency hands after Houthis had taken over the capital on 21 September, 2014.

Hadhramaut Governorate’s mayoral office issued a memorandum to all customs offices, terrestrial, naval and nautical exits, ministerial offices and all government-affiliated institutions. The memo banned the Central Bank from receiving collected revenue, it also ordered that revenue be redirected to Mukalla city’s National Commercial Bank, to account 247777.

Yemeni Finance Minister Dr. Mansir Quaiti, in a phone interview with Asharq Al-Awsat newspaper, said that no presidential orders were issued so far, and that the Hadhramaut mayor got ahead of matters by issuing a statement concerning required procedures.

He added that the government has decided on halting all revenue trade to the state account at Sanaa’s Central Bank, and transfer it to the

newfound state’s account at Aden’s National Commercial Bank- the state official Aden account holds the number 237237.

The Minister said that the state’s account in Aden is the one to be traded with, and not with local authority accounts.

The minister further stressed that the law decrees that all state central and local authorities should process all public dealings through the state’s official accounts and not through accounts belonging to local authorities.

The state account will manage all public finances and cover public expenditure along with governorate allocations.

On that note, located at the Hadhramaut governorate, Mukalla’s local authority organized a preparatory meeting on Sunday for the specialized workshop on the economic and development needs. The workshop is expected to take place at the end of July in cooperation with the Kuwaiti Arab Planning Institute.

Hadhramaut’s mayor said that the workshop and good preparations are a necessity to draft economic roadmaps for Hadhramaut’s outlook, which will materialize development and comprehensive recovery.