CBY works on electronic system to follow letters of credits
Tuesday 25/June/2019
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SABA News Online / Saleh Ahmed
حجم الخط
Governor of the Central Bank of Yemen (CBY) Hafez Meayad said " The CBY
currently was working on establishing an electronic system to directly
follow the movement of the transactions of letters of credits by the
commercial bank or the client".
Meayad statement came as he chaired periodic meeting included the CBY, commercial and Islamic banks. The session aimed to discuss banking action to activate trade through opening letters of credits to import basic commodities and invigorate monetary cycle.
Meayad stated that the CBY is interested in offering every necessary support for the banks to help them managing challenges they are facing.
Meayad stated that the CBY is interested in offering every necessary support for the banks to help them managing challenges they are facing.
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