News - Yemen: The Yemeni Banks Association has condemned the threats and arbitrary decisions made by the Aden authorities, particularly their recent decision to revoke the operating licenses of six major banks without any legal or economic justifications.

In a statement, the association highlighted that such decisions will only reinforce factors of turmoil and instability in the local financial market. The statement affirmed that these provocative decisions and measures will undermine the foundations of the Yemeni banking system, creating additional obstacles that hinder banks from fulfilling their role in serving citizens and supporting economic activities in the country.

The association explained that inciting messages against national banks, casting doubts about their activities, and leveling false accusations against them indiscriminately is an irresponsible act that damages the reputation of the Yemeni banking sector and shakes the confidence of clients and correspondent banks in Yemeni banks in general.

The statement indicated that Yemeni banks have agreed to implement escalating protest measures as a symbolic expression to clarify their stance and draw attention to the arbitrary decisions and measures they are facing.

The Yemeni Banks Association held the leadership of the "Central Bank in Aden" fully responsible for any complications or damages the banks may suffer as a result of the decisions and measures taken against them in violation of the law.

The association expressed hope that the Aden Central Bank's management would recognize their responsibility and reconsider the decisions that hinder the banks' operations, undermine their role in serving the national economy, and cause further suffering for citizens. The statement urged the bank's management to support the independence and neutrality of the sector, strictly adhere to the laws and regulations governing its activities, and avoid attempts to involve financial institutions in political conflicts.

Aden Bank is facing a severe liquidity crisis, resorting to foreign currency speculation and exacerbating the Yemeni people's suffering. The Saudi-backed government and Aden Bank's rejection of Sana'a's initiative to resume oil exports is hindering peace efforts in Yemen.

The Central Bank in Sana'a holds the Saudi regime responsible for the economic escalation and stresses the need to unify Yemen's financial system. These decisions aggravate Yemen's financial division, severely damaging the national economy and increasing the hardships faced by the Yemeni people.

Pressure on the US-Saudi coalition to end the economic war on Yemen and support the Central Bank in Sana'a's efforts to maintain financial stability and unify Yemen's financial system is crucial to saving the country from this crisis.