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  Local
Vice President meets leaders of workers Unions
[06 December 2016]
Human rights minister stresses on enhancing human rights principles
[05 December 2016]
President issues decree to appoint deputy director of presidency office
[04 December 2016]
President issues decree to appoint presidential adviser
[04 December 2016]
Yemen's National Salvation Government endorses its general program
[04 December 2016]
 
  Saudi Aggression on Yemen
Army blasts Saudi-provided military vehicle in Marib, kills its crew
[06 December 2016]
Saudi brutal airstrikes hit Bilad al-Ros again, severely injure little girl
[06 December 2016]
Army fires missiles on Saudi-paid mercenaries in Lahj
[06 December 2016]
Aggression war jets launch 23 sorties against Sa’ada, Asir
[05 December 2016]
US-Saudi aggression launch 24 air strikes on Saada, dropping cluster bombs
[05 December 2016]
 
  Reports
Roundup: Saudi aggression warplanes continue breaching ceasefire
[22 October 2016]
Saudi-Led Attack on Sanaa Funeral Apparent War Crime: says Human Rights Watch
[13 October 2016]
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]
 
  International
Sudan congratulates Yemen National Salvation Government
[03 December 2016]
President sends condolences to Cuba on death of Fidel Castro
[27 November 2016]
Yemeni Immigration authority returns 150 illegal Ethiopian migrants
[13 November 2016]
Army's artillery destroys Saudi military monitoring tower in Najran
[12 November 2016]
Army forces shoot down US-Saudi aggression scouting plane
[10 November 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, 06 Dec 2016 13:10:43 +0300