Economist: The Money Changers Association in Sana'a faces the threat of international sanctions due to its affiliation with the Houthis.

Economic expert Mustafa Nasr confirmed that the Yemeni Money Changers Association in Sana'a is now at risk of international sanctions, as it is being used as a tool to punish banks that have announced their relocation to areas controlled by the legitimate government.

Nasr, director of the Center for Economic Studies and Media, explained in a post on his Facebook page that the Money Changers' Association's compliance with the directives of the Houthi-controlled Central Bank makes it a direct partner in measures aimed at destroying the Yemeni banking sector.

Nasr noted that the association informed local money transfer networks that it had received Houthi directives to halt transactions with the Karimi Express network and the Yemen and Bahrain Shamil Bank, a move that could be followed by measures against other banks and networks. This reflects the Houthi group's intention to escalate financial and banking activity without realizing the consequences.

Nasr emphasized that the Money Changers Association's continued implementation of these directives places it and its members under the threat of international accountability and sanctions, just as happened with the Houthi Central Bank Governor, Hashem Ismail, who was sanctioned for his role in restricting the Yemeni economy.

He pointed out that exchange companies subject to Houthi decisions risk catastrophic repercussions, most notably international isolation. He called on financial institutions not to comply with these directives to maintain the stability of the banking sector and avoid potential sanctions.

Earlier on Tuesday, the Money Changers Association in Sana'a ordered the suspension of transactions with Al-Karimi Express and the Shamil Bank of Yemen and Bahrain, in implementation of directives from the Houthi-controlled Central Bank in Sana'a.

The suspension of Al-Karimi and the Bank of Bahrain came two days after the Central Bank of Yemen in Aden announced that eight banks in Sana'a were prepared to relocate their headquarters to Aden to avoid the threat of international sanctions.