Middle East Economic Survey

VOL. XLVIII

No 5

31-January-2005

YEMEN

Commercial Banks In Yemen Required To Raise Share Capital

The Governor of the Central Bank of Yemen (CBY) Ahmad al-Samawi has announced that the CBY board earlier this month issued a decree stipulating an increase in the share capital of all commercial banks operating in Yemen (local and foreign) to YR6bn ($32mn) over the next five years starting in 2005. Two years ago the CBY issued similar regulations requiring all banks to raise...