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Bomb explodes in Ibb, No casualties
[18 January 2017]
President meets Parliament Speaker, PM, FM
[18 January 2017]
President meets Ans district's sheiks, dignitaries
[18 January 2017]
Vice President meets Albaidha governor
[17 January 2017]
US-Saudi aggression warplanes and battleships kill citizens in different provinces
[17 January 2017]
 
  Saudi Aggression War against Yemen
Army, popular forces hit mercenaries in Taiz
[19 January 2017]
Army, popular forces bomb mercenaries' military vehicles in Mareb
[19 January 2017]
Saudi aggression warplanes wage 6 strikes on Sa'ada
[19 January 2017]
Army kills 7 Saudi-paid mercenaries in Taiz
[19 January 2017]
Army kills enemy Saudi soldier, hits military bases in Najran, Jizan
[19 January 2017]
 
  Reports
President meets tribal sheikhs
[18 January 2017]
Roundup: US-Saudi non-stop airstrikes destroy Yemen's governorates, drop cluster bombs
[02 January 2017]
Roundup: Army, popular forces win victory over Saudi
[26 December 2016]
Roundup: US-Saudi aggression warplanes continue heinous crimes against Yemeni civilians
[24 December 2016]
Roundup: Saudi aggression warplanes continue breaching ceasefire
[22 October 2016]
 
  International
UN Political Affairs asks permission for Ould Cheikh visit to capital Sana'a
[19 January 2017]
FM meets Russian charge d'Affaires to Yemen
[18 January 2017]
FM meets Senior Consultant of UN Secretary General Special Adviser to Yemen
[18 January 2017]
FM meets charge d'affaires of UNICEF office
[18 January 2017]
British House of Commons member concludes visit to Yemen
[12 January 2017]
  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 : Thu, 19 Jan 2017 23:21:03 +0300