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JMPs: Yemen unity will remain despite occupation
[23 May 2018]
President al-Mashat: New invaders' ambitions will never be realized in Yemen
[21 May 2018]
Ministry of Civil Service: Tuesday, May 22, official holiday
[21 May 2018]
PM discusses service projects in capital Sanaa
[20 May 2018]
PM discusses service projects in capital Sanaa
[20 May 2018]
 
  Saudi Aggression War against Yemen
Ballistic missile hits Saudi-paid mercenaries in Taiz
[23 May 2018]
Two air strikes of coalition target Hodiedah
[23 May 2018]
Arrmy's artillery shells Saudi-paid mercenaries in Najran
[23 May 2018]
Army artillery shells Saudi army’s gatherings in Jizan, Hajjah
[22 May 2018]
10 Saudi-led airstriked hit Hajjah
[22 May 2018]
 
  Reports
Report: Woman injured in Saudi ground attacks, 18 airstrikes on Yemen over 24 hours
[23 May 2018]
Report: Fisherman killed in 27 aggression airstrikes over 24 hours
[22 May 2018]
Report: Yemen army, committees achieve great victories in battlefronts over 24 hours
[22 May 2018]
Report: Army carries out military offensives targeting Saudi troops over 24 hours
[21 May 2018]
Report :Army carries out offensives on Saudi troop in front lines over 24 hours
[20 May 2018]
 
  International
FM condoles his Cuban counterpart in air plane crash
[20 May 2018]
Fierce new coalition offensive displaces tens of thousands of Yemeni civilians from Hodeidah: Amnesty
[18 May 2018]
President congratulates Arab, Islamic nations for Ramadan
[16 May 2018]
Ministry of Expatriate Affairs condemns US embassy relocation to Al-Quds
[15 May 2018]
Ansar Allah Political Bureau condemns transfer of the US Embassy to Jerusalem
[14 May 2018]
  Local
CBY, IMF discuss issuing Islamic instruments in Yemen
[27/July/2009]

SANA'A, July 27 (Saba) - Governor of Central Bank of Yemen (CBY) Ahmad al-Samawi discussed here on Monday with the International Monetary Fund (IMF)'s mission led by Ghiath Shabsigh the final results the mission has reached in its study on issuing the Islamic instruments in Yemen .

In the meeting al-Samawi valued efforts exerted by the mission in preparing for the study which would be reviewed by the government to make notes over its recommendations.

He indicated the successes achieved by the Islamic banks in Yemen, noting that they have become possessing more than 30 percent of the banking sector in Yemen, 27 percent of the deposits and 40 percent of the total financial facilities.

Approving the Islamic banking amended law recently by the parliament, allowing possession of big shares in the current banks by investors and opening branches for the traditional banks with Islamic principles would lead to growing these banks' role in the future, al-Samawi made it clear.

For his part, the IMF's official reviewed the distinct results of the study which affirmed that Yemen is a good environment for issuing the Islamic instruments and recommended starting the planning for issuing them in order to absorb the surpluses at the Yemeni Islamic banks and to use the instruments for financing the economic and social plans' projects.

The study was based on the general objectives that the Yemeni government seeks to achieve through issuing the instruments weather by expanding its financial base or by creating investment opportunities with Islamic finance tools, Shabsigh pointed out.

He indicated that issuing the instruments requires a programmed budget from the state for the projects and procurements funded from the Islamic instruments, confirming the importance of raising the budget's competency weather in the programming or executing phases in regards to financing the coming instruments.

BA/AM

Saba
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UPDATED ON : Wed, 23 May 2018 13:53:46 +0300