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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

Aden Central Bank Governor's Investigation Referral Sparks Currency Turmoil in Southern Yemen

News - Yemen: In a precedent considered the first of its kind, the Judiciary Council affiliated with the Saudi-backed government has initiated an investigation into the governor of the Central Bank in Aden, prohibiting his travel.

A memo circulated from the Judiciary Council to the Attorney General in Aden on Tuesday instructed the investigation of the bank's governor, Ahmed bin Ahmed Al-Muaqabi, on charges of "obstructing the financial support of the judiciary, leading to the hindrance of justice, despite the financial support memo issued by the Ministry of Finance to the bank."

Activists from various regions of Yemen believe that such a decision should focus on significant issues such as currency devaluation, economic decline, misappropriation of public funds, and the absence of services and security, rather than the Judiciary Council exploiting its authority to address its interests without considering public concerns.

They argue that obstructing justice in Aden in its current state does not warrant an investigation, noting that the presence or absence of justice in Aden does not significantly impact citizens due to the judiciary's catastrophic performance.

Several observers link the substantial collapse of the local currency in areas controlled by the coalition to the governor of the Central Bank being referred for investigation.

The local currency prices in Aden have witnessed a significant decline, with the exchange rate of one US dollar reaching 1687 riyals on Wednesday following the Judiciary Council's decision against the Central Bank governor, representing a difference of 20 riyals compared to the previous Tuesday's prices.

As of now, the governor of the Central Bank in Aden has not provided any clarifications regarding the matter.

 

#Yemen #Aden #Occupied Southern Governorates About 10 months
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This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world

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