Sana'a – SABA:
Yemen International Bank (YIB) stated the decision by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to impose sanctions on the bank and three of its executives.
In the statement, received by the Yemeni News Agency (SABA), the bank emphasized that for over 45 years, it has conducted its banking activities with the highest professionalism and following international standards. It continues to exercise utmost diligence in its operations, adhering strictly to anti-money laundering (AML) and counter-terrorism financing (CFT) compliance standards, as well as the regulations of the Central Bank of Yemen.
The bank clarified that it will persist in providing domestic banking services and maintaining its operations despite the challenging circumstances beyond its control. It stressed that all necessary measures will be taken to mitigate any potential negative repercussions of the OFAC decision.
YIB reassured its customers that their deposits are fully secure, noting that its assets and reserves held with the Central Bank of Yemen and other financial institutions exceed the liabilities to depositors and shareholders.
The bank affirmed its commitment to pursuing all required steps, in coordination with relevant authorities and through official legal channels, to lift the sanctions and secure its removal from OFAC’s lists as soon as possible.
Yemen International Bank called on all parties to shield the banking sector from the repercussions of political conflicts, given their severe consequences on the national economy and citizens' livelihoods.
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