VOL. XXXVI

NOS. 13/14

28-DEC-92/4 JAN 93

Financial and Banking News

REGIONAL BANKING

Foreign Bank Opens in Aden

Banque Indosuez opened a branch in the Yemeni port city of Aden on 17December, the first foreign bank to operate there since 1969, when the thenMarxist-ruled People's Democratic Republic of Yemen (PDRY) closed all foreignbanks and established the government-owned National Bank for commercial bankingpurposes. When the PDRY and the northern Yemen Arab Republic united in May 1990,free market...