How does the West use money to pressure the Yemeni government?

How does the West use money to pressure the Yemeni government?

Yemen is looking to activate the role of its central bank and exploit the Saudi deposit of $2 billion to stop the deterioration of the Yemeni riyal and the collapse of the local economy, but obstacles to the effectiveness of the bank, which recently complained about trying to involve banking in the political differences and the war in this The poor country.

The governor of the central Bank of Yemen, Mohamed Zammam, spoke of a number of obstacles facing the bank, accusing in remarks quoted by media sources earlier this week that Britain was behind the attempt to inject politics into Yemen's economic crisis.

"The Central bank of Britain has surprised its Yemeni counterpart with political requirements in exchange for the reopening of the frozen Yemen account," he said, adding that what had been requested was "unrelated to the banking business, and only to prevent Yemen from using its funds to buy the food needed by the Yemeni people."

The Al Jazeera net website obtained limited information from sources in the bank on some of these requirements, which consisted in "distributing the bank's funds in all Yemeni cities, including the al-Houthi control areas in the north of the country, and not using them for military purposes, in addition to reporting on money laundering Yemen, and reactivate the central bank in Sana'a  ".

According to the sources, the recently appointed central bank leadership was unaware of a deposit in Britain and a number of countries--estimated at 729 million dollars--only about a year later, as external accounts were frozen due to the war in Yemen.

Yemeni President Abed Rabbo Mansour Hadi issued a decision in September September 2016 to relocate the central bank headquarters from Sana'a to the temporary capital of Aden, at which time he was appointed Governor of al-Quaiti.

Restrictions imposed

In remarks to Aljazeera NET, director of the Government National Bank Dr. Mohammed Halboub explains the reasons for the restrictions imposed on the Yemeni banking system, stressing that the recent British requirements are summarized in the request of the central bank to oblige all banks and cashiers in Yemen to the standards of combating money laundering and financing of terrorism.

"As a result of the failure of the entire banking system of the central bank authorities in Aden-especially that one of the government banks in Sana'a (refusing to disclose his name) is directly under the control of the Houthis, and many cashiers do not abide by international standards-the entire banking system in Yemen is damaged and helps to give Banks and some countries of the world have the excuse to exert pressure on the central bank of Yemen as the bank of banks of the Yemeni  ".

He said that these countries are using these loopholes for political aims to pressure legitimacy to meet the conditions of the apparent technical and political goals, he says.

Britain, according to Al-Jazeera net, also refuses to withdraw any funds from the central bank's account with the signing of the current President of the Bank Mohammed Zammam because the deposit and withdrawal signatures are still in the name of former director Mohammed Bin Hammam, who was sacked in 2016.

Yemeni researcher Fahd Sultan believes that a number of Western countries have had and are still in a strange position to support the Houthis indirectly.

"This support at its lowest level lies in the" silence about what is happening in Yemen, which has provided the people with ample space for movement, continued fighting and prolonging the war, "he told Al Jazeera net.

Complex requirements

The director of the National Bank confirms the difficulty of the conditions placed by Britain and some foreign banks on the central bank, especially with the fact that most of the civil and commercial banks in the capital Sana'a are under the control of the Houthis, in addition to the spread of hundreds of exchange shops.

According to Dr. Mohammad Halboub, in a telephone conversation with Al-Jazeera net, the global financial system requires the provision of hard-to-reach reports and information, with the Houthis taking control of the capital, Sana'a, and traders resorting to exchange shops that replaced the central bank.

He called on Britain to speed up the release of funds for Yemen, as the central bank follows the internationally recognized legitimate government, and at the same time calls on the bank to take steps and decisions against the Government bank in Sana'a, which violates what it calls "international standards" to avoid those requirements..

For his part, the researcher Fahd Sultan said that the current requirements set by Britain to the legality of the return of the central bank to the performance of its tasks flow in this strange direction, which is  "support the Houthis ".

He notes that these countries "were silent about the looting of the bank when he was in Sana'a," noting that with the urgent need for his return, requirements are put in place for the purpose of extracting political positions that do not solve the problem in Yemen as much as it multiplies and make the Houthis a number that fails any return to the country and stability in the region.

The central bank of Yemen recently tried to use its limited influence in the south of the country to stem economic decline, while Yemenis hope the bank will re-control economic life, while the country is divided between the parties to the conflict, the continued deterioration of living life and the high rate of hunger in Yemen.


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