28-DEC-92/4 JAN 93
Financial and Banking News
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...
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