Exchange companies in Marib remain closed despite Central Bank directives

The Yemeni Money Changers Association in Ma'rib Governorate announced on Tuesday that exchange companies and establishments in the governorate would remain closed, despite the Central Bank announcing the resumption of their work.

This came during an emergency meeting held by the association to discuss the repercussions of the rise in exchange rates and the Central Bank’s decisions regarding closure and reopening, in addition to studying the most appropriate solutions that take into account the public interest and ensure the stability of the financial market.

In a statement issued by the association, it confirmed that it had approved sending a delegation consisting of the administrative body and four members of the association to meet with the director of the Central Bank branch in Marib, with the aim of enhancing coordination and cooperation and discussing possible solutions to the current crisis.

Yesterday, Monday, the Central Bank issued a circular to resume the activity of exchange companies in the governorate, after a halt that lasted for several days, as part of the bank’s efforts to regulate the financial market and control the trading of foreign currencies.

This comes amid the collapse of the national currency in the governorates under the control of the legitimate government, amid the government’s inability to take appropriate measures to limit this unprecedented historical collapse.