News - Yemen: The Central Bank of Yemen (CBY) has warned of the ongoing escalation targeting the banking sector, driven by the directives of the Saudi regime, which utilizes mercenary tools.

An official source at the CBY informed Saba News Agency that the renewed attacks on the banking sector, particularly by the Central Bank in Aden, are executed under Saudi orders. These actions are influenced by American and British directives, in response to Yemen's stance against the genocide committed by Israel against the Palestinians.

The source emphasized that the CBY, having faced numerous conspiracies over the years, remains vigilant and continues to implement measures to counteract these threats. The CBY is in constant confrontation with all efforts aiming to destabilize the banking sector.

The source held the Saudi regime accountable for any negative repercussions on the Yemeni people, stating that the Saudis use mercenaries to carry out these harmful activities.

Yemeni provinces under Saudi-Emirati occupation are suffering severe economic crises due to the manipulation by the Saudi-backed government and the exploitation of resources by occupying forces. The introduction of counterfeit currency has led to severe inflation and skyrocketing prices.

In contrast, amidst the currency's freefall in the occupied regions, Sana'a and provinces governed by the Supreme Political Council maintain currency stability. The banking sector remains resilient, with the US dollar holding steady below the 530 riyals mark. This stability, coupled with Sana'a's economic resilience, underscores the careful deliberation behind the decision to introduce the 100 riyal coin, regulated by the central bank to safeguard the currency's integrity.

In early April, the Saudi-backed government ordered commercial banks, Islamic banks, and microfinance banks to relocate their headquarters from Sana'a to Aden within 60 days. The Central Bank in Aden warned that banks failing to comply would face legal actions under the Anti-Money Laundering and Counter-Terrorism Financing Law.

Economists believe this decision is a punitive response to the Central Bank in Sana'a issuing a new 100 riyal coin to replace damaged paper currency. They argue the Saudi-led coalition has long aimed to force the Sana'a government to either accept the new illegal currency, causing inflation and burdening citizens, or face a cash shortage.

The coalition expected the old currency in Sana'a to run out, compelling acceptance of the new currency and causing a nationwide collapse of the Yemeni riyal. However, the new coin issued by the Central Bank in Sana'a has maintained currency stability and reduced inflation risks.

The United States is seen as driving the decision to pressure Sana'a regarding Gaza, with the Saudi-backed government using it to avoid peace obligations and disrupt the roadmap.