Yemen’s South: the Central Bank Announces Bankruptcy and Permanently Shuts Down

Yamanyoon

The Central Bank of Yemen, Aden province, made an announcement on Wednesday , apologizing for  not providing financial and banking services due to lack of cash for its 2nd week.

The newspaper “Aden Al Ghad” quoted from officials of the Central Bank of Yemen, saying that “ the central bank of Aden has stopped its services completely and we apologize  for any procedure Which resulted in the bank’s financial services being severely paralyzed by a number of government and private institutions in Aden and other governorates and the rise of the dollar, which now equals 493 riyals per dollar for sale and 495 riyals for purchase in the black market.

The Hadi government, which oversees Yemen from hotels within Riyadh regime, accuses the United Arab Emirates of holding 170 billion riyals of the printed currency in Russia which was provided to the port of Aden via container vessels, but UAE prevented its transfer to the central bank without any justification.

Yemen’s south is under the control of the Saudi-led coalition after it Yemeni joint forces withdrew from it as a result of fierce clashes .