SANAA, Nov. 23 (Saba) - The General Assembly of the Central Bank of Yemen (CBY) on Thursday approved the balance sheet and the profit and loss account for the year ended 31 December 2017.

The General Assembly of the bank, at its 55th meeting in Sana'a under the chairmanship of the Chairman of the Board of Directors Hussein Harrhh, in the presence of shareholders and representatives of government agencies, approved the distribution of profits as proposed by the Board of Directors of the Bank and the discharge of the Chairman and members of the Board from all related to their administration for the said year.

The meeting also approved allowing the Board of Directors of the Bank to donate within the limits stipulated by law.

The meeting approved the reports of the Board of Directors and the Independent Auditor, as well as the report of the Shariah Board of the Islamic Branch.





According to the general budget report, the bank achieved a net profit of YR 2 billion and 675 million at the end of 20101 after deducting all expenses, charges, provisions, taxes on commercial profits and Zakat.

The report pointed out that the bank's assets amounted to 201 billion riyals, while deposit balances amounted to 168 billion and 316 million riyals by the end of 2017.

The members of the Board of Directors were elected at the meeting instead of the outgoing members.


AA
Saba