Saudi Arabia, UAE, US, UK condemn Houthi’s 'illegal interference' in Yemen’s banks

A Yemeni money exchange employee counts local currency at an exchange office in Sanaa. (AFP file photo)
Updated 13 February 2019
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Saudi Arabia, UAE, US, UK condemn Houthi’s 'illegal interference' in Yemen’s banks

  • The Economic Quartet Committee on Yemen met in Riyadh to discuss Yemen's economic challenges
  • The quartet also called for the stabilizing of the Yemeni Riyal

JEDDAH: The US, Saudi Arabia, UAE and the UK issued have strongly condemned the Houthi’s “illegal interference” in Yemen’s banks.

The Economic Quartet Committee on Yemen met in Riyadh on Tuesday to discuss the challenges facing the central bank and the broader economic and humanitarian situation.

“In light of recent reports of illegal interference in the operations of a number of local banks in Sana'a and the arrests of banking staff, the four nations strongly condemn these and other illegal acts carried out by the Houthis that pose a threat to civilians and the economy of Yemen,’ the quartet’s ambassadors said in a joint statement. 

“The four nations firmly request lifting the imposed regulations on the local banks in Sanaa, which impede commercial imports and desperately needed humanitarian assistance.”

The quartet also called for the stabilizing of the Yemeni Riyal and strengthening Yemen's economy by “consolidating revenues, paying all public salaries, and continuing to strengthen the Central Bank of Yemen.”

Since the Iran-backed Houthis seized Sanaa in 2014, sparking the war, they have been accused of squandering state funds and mismanaging finances in the areas they control. 

The internationally recognized government moved the central bank to Aden in 2016, accusing the Houthis of losing $4 billion of bank reserves on the conflict.

Mohammed bin Saeed Al-Jaber, the Saudi ambassador to Yemen who chaired Tuesday’s meeting, said the central bank and the country’s battered economy will benefit from a stimulus package.

The meeting was held at the headquarters of the Saudi Program for the Development and Reconstruction of Yemen on Monday.

The UAE and Saudi Arabia, both members of the military coalition fighting the Houthis in Yemen, and the UK and US are expected to discuss Yemen and a ceasefire deal in Hodeidah at the Middle East summit in Warsaw that starts on Wednesday.


13,230 families benefit from ‘Sakani’ program in Saudi Arabia

More than 157,000 families benefited from the program during 2018. (SPA)
Updated 17 June 2019
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13,230 families benefit from ‘Sakani’ program in Saudi Arabia

  • More than 157,000 families benefited from the program during 2018

RIYADH: The Ministry of Housing’s “Sakani” program has helped 13,230 families registered on its Real Estate Development Fund list with housing options and finance solutions during May.
This includes 5,835 families who live in their own homes, bringing the total number of families benefiting from the program in different regions of the Kingdom since the start of the year to 68,195.
The Sakani program announced the names of beneficiaries and their national ID numbers through the link https://sakani-names.housing.sa or via the program portal.
More than 157,000 families benefited from the program during 2018.
Ministry of Housing spokesman Saif Al-Suwailem said that Sakani continues to provide its services to beneficiaries according to their needs and abilities. The ministry is keen to provide better services in line with the “Eskan” program, one of the Saudi Vision 2030 initiatives that aims to raise the proportion of residential ownership to 70 percent by 2030.
As part of Sakani’s efforts to provide suitable housing options, the program began to implement 53 new housing projects in different regions of the Kingdom, characterized by affordable prices for a large segment of citizens registered on the lists of the Ministry of Housing.
Al-Suwailem said that the ministry was keen to find solutions for Saudi families that help them to own the right home for them. SPA Riyadh