VOL. XL

No. 39

29-September-1997

YEMEN

New Banking Law In Yemen

Commercial banks in Yemen will have to raise their minimum share capital to YR1,000mn($7.7mn) from YR250mn ($1.9mn) under a new law which was recently approved by the YemeniCouncil of Ministers and is due to be presented to parliament in the coming few weeks. TheGovernor of the Central Bank of Yemen, Mr. Ahmad Abd al-Rahman al-Samawi, has said thatthe new law also aims to strengthen the role of the Central Bank in regulating...