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Yemen.. Central Bank gives exchange companies two months to renew their licenses for the year 2025
Economy| 28 December, 2024 - 9:44 PM
Aden: Yemen Youth Net
The Central Bank of Yemen in the interim capital, Aden, announced that it would grant exchange companies and establishments a two-month grace period to renew their exchange business licenses for the year 2025.
In a press release, the bank obligated all exchange companies and establishments operating in the Republic to renew their licenses through the bank’s main office in Aden, so that they can continue providing their services to citizens.
The statement explained that the process of submitting renewal applications will be done electronically via the Central Bank’s licensing platform during the months of January and February 2025.
The bank called on exchange companies to complete the required procedures in accordance with the laws and instructions issued by it, warning of legal procedures being applied against companies that delay renewal within the specified time period.
This step comes as part of the bank’s efforts to enhance regulation and oversight of the exchange sector and ensure its compliance with legal standards.
This comes a day after Saudi Arabia announced that it would provide half a billion dollars to the Yemeni government and the Central Bank of Yemen to limit the collapse of the national currency and the government’s inability to pay employees’ salaries for the third consecutive month.
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