Major exchange companies shut down in Aden, Yemen- YPA

Aden, July 14 (YPA) – In response to the withdrawal of their licenses by the Central Bank of Aden, major exchange companies and several banks have closed their doors in Aden and other areas under the Saudi-led coalition’s control.

Local sources have reported that “Al-Kuraimi Microfinance Bank” and “Al-Tadhamon Bank” closed their branches in Aden and surrounding regions after Aden Bank revoked their licenses. Additionally, several Yemeni banks refused to relocate their headquarters from Sanaa to Aden, leading to closure.

The banks have rejected what they call a Saudi-American conspiracy to destroy the banking sector, crucial to the Yemeni economy. The Bank of Aden was directed to withdraw licenses and close the SWIFT system for foreign transfers to areas controlled by the Sanaa government.

Aden’s central bank, under coalition control, is taking measures detrimental to the Yemeni economy due to the naval blockade imposed by Sanaa forces on Israeli ports in support of Palestinian resistance in Gaza.

The United States and Saudi Arabia are escalating economically by targeting Yemeni banks in Sanaa to pressure them to halt naval military operations.

YPA