As part of the decisions aiming at maintaining the national currency of the country, the Central Bank of Yemen raised the interest rate on Certificates of Deposit to 27 percent, and the profit rate on Agency's deposits to 23 percent as well as the interest rate on Government Bonds to 17 percent.
According to the Central Bank of Yemen, the profit rate on deposits will be paid every three months, or upon the Governor's decision on a pre-agreed period.
The Central Bank also decided, after coordination with the Government and the provision of $100 million, to intervene in the Markets in order to open credits for basic commodities and necessities, in addition to the amounts and goods covered by the Saudi’s Deposit. The Central Bank urged all banks to quickly open credits for essential goods and necessities, and to be submitted to the Central Bank for approval, and be covered by the Foreign Banks’ accounts.
The Central Bank of Yemen had taken earlier, a number of decisions to open credits for traders and goods, which do not exceed $200 thousand of dollars, and which cover the purchase of two thousand dollars in foreign currency for citizens traveling for treatment.
Source (Al-Sharq Al-Awsat newspaper, Edited)
