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Many mercenaries killed and injured in Taiz
[27 September 2016]
Army targets gatherings of Riyadh's mercenaries in Lahj
[27 September 2016]
SPC President speaks to the nation on 54th Revolution Anniversary
[25 September 2016]
Army kills Saudi-paid artillery commander in Lahj
[25 September 2016]
Army launches missiles on gatherings of Saudis soldiers in Asir
[24 September 2016]
 
  Saudi Aggression on Yemen
Hostile warplanes hit residents’ houses, farms
[27 September 2016]
Army pounds Saudi site in Jizan, kills Saudi soldiers
[27 September 2016]
U.S.-Saudi warplanes launche 6 raids on Serwah
[27 September 2016]
Saudi jets wage raids on Hodeida
[27 September 2016]
Saudi war jets wage raids on Sa'ada, Jizan
[27 September 2016]
 
  Reports
Army's heroes keep advances against Saudi aggression on various front lines
[19 September 2016]
The Guardian publishes detailed investigation into Saudi aggression crimes against Yemen
[17 September 2016]
Blackwater's dirty tasks in Yemen (analysis)
[17 February 2016]
After declaring involvement in aggression, USA defeated in days
[16 February 2016]
Millions view hashtag USA_kills_Yemeni_people
[16 February 2016]
 
  International
Army kills tens of Saudi soldiers in retaliatory attack
[27 September 2016]
Army kills 4 Saudi soldiers in Jizan
[26 September 2016]
U.S.-Saudi aggression aerial reconnaissance aircraft shot down in Sanaa
[25 September 2016]
180 Yemeni civilians killed by Saudi aggression air strikes in August: UN
[24 September 2016]
Urgent: Yemen's Rocket Battalion fires ballistic missile on Saudi military camp in Asir
[24 September 2016]
  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 : Tue, 27 Sep 2016 21:05:33 +0300