SANA'A, Nov. 14 (Saba) - The Central Bank of Yemen (CBY) in the Capital Sana'a is currently setting up an inquiry into operations of smuggling money abroad made by Tadhamn Islamic international bank (TIIB), an official at the CBY said on Friday.
TIIB in Sana'a in cooperation with CBY in Aden province has transferred amounts of hard currency from the "Saudi deposit" to Aden CBY in return for purchasing goods.
However, the allotted goods have never arrived in Sana'a, which would negatively impact the national economy and increase the suffering of the Yemeni people in all provinces, the official explained.
The CBY in Sana'a holds expanded sessions with the TIIB management, in order to immediately corrects previous violations and stop the ongoing ones, which threatens the status of the banking sector and harms the national economy.
In the event that corrective measures are not reached, the file will be referred to the competent authorities in accordance with the laws in force in the country, the official said.
H.H
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