Abu Dhabi (South24) 

Yemeni and Emirati officials discussed efforts to combat money laundering and terrorism funding in the UAE capital Abu Dhabi on Wednesday, according to "South24" sources.

UAE and Yemeni sources reported that the Governor of the Central Bank of the UAE, Khaled Balama, met on Wednesday with the newly appointed Governor of the Central Bank of Yemen, Ahmed Ghaleb.

According to an informed source, the meetings of the Central Bank of Yemen with the Central Bank of the UAE dealt with how to coordinate and monitor the movement of funds between the two countries.

"We also discussed the mechanisms of joint cooperation between the Central Bank of Yemen and the Central Bank of the UAE in efforts to combat money laundering and terrorism funding and to benefit from the experiences of governance and transparency in the UAE," the source added.

In the same context, the Yemeni Central Bank and UAE Bank officials held extensive meetings with the Director General Chairman of the Board of the Arab Monetary Fund Abdulrahman Al Hamidi, during which they discussed ways to support the Yemeni economy in the short and medium term, to halt the state of collapse that the country is experiencing as a result of the conflict.

The sources stated that the Saudi capital Riyadh is the next destination for the Central Bank of Yemen officials after completing their meetings in Abu Dhabi.

Yemen is experiencing a stifling economic crisis with the continued deterioration of the currency rate. However, the recent structural measures in the management of the Central Bank have given hope that there are steps to improve this situation.

It is expected that the UAE and Saudi Arabia will provide a financial deposit aiming to save the Yemeni economy from collapse, according to what the Yemeni Prime Minister announced on Wednesday. 

South24 Center for News and Studies

Photo: During the meeting of the Governor of the Central Bank of Yemen with the Governor of the Central Bank of the UAE, 19 Jan 2022 (South24)