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  Local
Police arrest thieves stealing cars, motorcycles
[27 March 2017]
Solidarity rallies with Yemenis in several European capitals, US cities
[27 March 2017]
Black gunpowder-loaded car seized in Hodeidah
[27 March 2017]
Security services arrest 2 al-Qaida terrorist operatives in Bayda
[23 March 2017]
Agricultural ministry, Action Against Huger sign support agreement
[22 March 2017]
 
  Saudi Aggression War against Yemen
FM official: Saudi, its allies threatening safety of Red Sea shipping
[27 March 2017]
Labor Unions: Anti-Saudi rally shows Yemenis are stronger than ever
[27 March 2017]
Mercenaries killed in Taiz
[27 March 2017]
Saudi criminal airstrikes continue raids on Yemen
[27 March 2017]
Citizen executed in mercenaries' prisons
[27 March 2017]
 
  Reports
Roundup: Saudi kills 15 Yemeni civilians in 112 airstrikes on Yemen in 3 days
[25 March 2017]
Report: Saudi kills 68 in 301 airstrikes on Yemen in 7 days
[23 March 2017]
Roundup: Saudi kills 30 in 235 airstrikes on Yemen in 6 days
[15 March 2017]
Saudi conducts 47 airstrikes, killing 4 civilians in 24 hours
[14 March 2017]
Roundup: 282 Saudi aggression airstrikes hit Yemen in five days, killing 13 civilians
[06 March 2017]
 
  International
FM meets IOM official in Yemen
[20 March 2017]
FM meets UN official
[19 March 2017]
FM meets deputy resident representative of UN Population Fund
[19 March 2017]
FM meets UNHCR official in Yemen
[18 March 2017]
Foreign Ministry : US-Saudi coordination to expand war in region
[16 March 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 : Mon, 27 Mar 2017 13:35:36 +0300