By: Aref Abu Hatem (almotamar.net) - SANA’A- Governor of the Central Bank of Yemen (CBY) Abdul-Rahman al-Samawi affirmed the surplus of the payments balance since the beginning of 2006 till September has reached one billion and 250 million dollars, which is reflected on the foreign assets at the bank that exceeded 7 billion dollars.
Al-Samawi added the foreign assets of the banks in Yemen reached one billion and two hundred million dollars, and that Yemen’s foreign debts have decreased.
According to al-Samawi, the CBY’s budget rose from 187 billion at the end of 1995 to one trillion and four hundred sixty two million riyals last August.
The banking sector budget rose from 200 billion riyals at the end of 1998 to 950 billion at the end of last September.
The deposits of the banks increased from 50 billion at the end of 1995 to 800 billion at the end of last August.
Al-Samawi made it clear that the CBY makes efforts to improve the banking sectors in Yemen and that all banks must have a minimum paid-up capital of YR 6.0 billion by 2009. “Some banks have exceeded this amount and that last August the total paid capitals reached some 60 billion riyals,” he noted.
The Yemeni banks have improved their services, with opening branches in various governorates of Yemen, and using ATM service.