Corruption charges and a race of influence. The conflict scenes between the governor of the central bank and his deputy!

Corruption charges and a race of influence. The conflict scenes between the governor of the central bank and his deputy!

The dispute between The Governor of the Central Bank of Yemen Hafiz Ma'ayed and his deputy Shakib Hobaishi threatens to have negative repercussions on the exchange market and the banking sector as a whole, and banking experts expect the local currency (riyal) to see a rapid decline in its value as a result of the dispute that shakes confidence in the central bank's institution.

Internal disputes at the central bank came to light after leaks and information about each other's corruption were published, raising questions about the truth of what was happening and how it affected the banking sector and the local currency.

The disputes erupted on July 18th, after the bank's supervisory advisor and commitment Rachid Ansi posted information and documents on his Facebook page accusing the Bank's Deputy Governor Shakib Hobaishi of corruption, and the information says that collusion with the related (Nofal Saeed Abdullah) Hobaishi, the brother of the deputy governor and in violation of the financial law and the recommendations of the Ministry of Finance, which led to the illegal acquisition of 1,335,252,945.00 riyals.

Al-Ansi explained that, under the promotion of the Ministry of Finance on March 10, 2019, the equivalent of (7,003,687) USD was disbursed for an account with the National Bank in the name of Nofal Trading and Power branch Of Queen Arwa, where the amount was deducted from the balance sheet account. In riyals at 381 riyals to the dollar while the market price was 550 riyals to the dollar.

According to those close to Deputy Governor Shakib Hobaishi, the eruption of disagreements was caused by the governor's appointment of his supervisor and compliance adviser Rachid Ansi to head a committee to take over the bank's coffers, and Hobaishi leaked a report on July 19th that he had prevented a group of the governor's office from entering the headquarters after midnight.

According to the news, central bank governor Hafiz Ma'ayed pushed his office manager, two employees and a senior cashier and his escorts to storm the bank at 1:00 a.m. on Thursday ( July 18th), but the bank's guards prevented them and expelled them from the heavily fortified building.

"The bank's guards communicated with Deputy Governor Shakib Hobaishi and informed him of the irresponsible behavior of the director of the governor's office and those with him," the source added. The Deputy Governor responded by instructing the bank's guard staff not to allow this group or any other person to enter the bank outside officially authorized working hours."

In the context, al-Ayyam newspaper, which has been carrying out a continuous attack for days against the governor of the Bank, quoted official sources in the Central Bank of Yemen that the blow up the recent disputes between the governor of the bank, Hafiz Ma'ayed, and his deputy, caused by the appointment of a person named Rashid Al-Ansi to head a committee to take over the inventory of the treasuries Bank.

The response came from the team affiliated with the Governor of the Bank through publications on the page of Rachid Ansi, monitored by Al-Masdar online, accusing the deputy governor of corruption and later the National Security Agency arrested al-Ansi, who is affiliated with Ma'ayed, after he gave testimony in the public prosecution against Hobaishi  the deputy governor .

According to those close to the deputy, al-Ansi was interrogated by officers of the National Security Agency for about six hours about the "breaking into the office of an official of the Central Bank of Yemen, as well as exploiting a task assigned to him by Hafiz Ma'ayed to photograph the coffers of the Central Bank in addition to the suspicion of his relationship with the money mafia in Sana'a." who recently brought them to Aden to speculate on exchange rates at the request of Hafiz Ma'ayed and involve them in the purchase of foreign currencies."

In the context, the newspaper "Al-Ayyam", 29 July, published a story about a financial source, accusing Ma'ayed of carrying out illegal banking operations, and explained that these funds exceeded the limits of 180 million dollars and at the price of 507 riyals, equivalent to 91 billion riyals, in a period not more than six months.

In many cases, the dispute between the governor of the bank and his deputy took a regional turn, and the dispute was portrayed as being between north and south, said Lotfi Shatara, a member of the Transitional Council calling for the secession of the south, in a post posted on his Facebook page, and monitored by Al-Masdar online":" No matter how much they try to hide the truth about what happened and what's going on at the central bank after that. The heart of the conflict is south-north, and the days will soon prove to you the truth of what I say. A power struggle between a northern hegemony that Hafiz Ma'ayad wants to impose and are resisted by southerners with his deputy Shakib Hobaishi ."

Governor of the Central Bank of Yemen Hafiz Fakher Ma'ayad, in the first comment, came out through a statement from a source close to him posted on social media, referring to the dispute with his deputy as a fight against corruption, and threatened to leave his post within a month, the source said: The governor, when he accepted the post, agreed with the president of the republic to take the position of governor only for six months, and his acceptance of the post was a step to avoid economic collapse, and generally there is only a month left on the agreement, and the governor is determined to abide by that date."

The statement, published by the Central Bank's Media Center, said the fight against corruption is central to the economic battle led by the governor and his team.

Economists warn of the repercussions of the disagreement between the bank's governor and deputy governor, on the exchange market and the value of the local currency, and the consequences of this conflict in undermining confidence in the central bank and the banking sector as a whole, at a time when the Yemeni riyal is witnessing a new decline.

Banking sources and traders in the Yemeni exchange market, said Tuesday, that the Yemeni riyal continued its decline against the U.S. dollar, where it fell in the parallel market to 585 riyals to the dollar, down from 550 at the beginning of July


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