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

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.


OIC delivers COVID-19 emergency medical aid to Afghanistan

Updated 39 min 18 sec ago

OIC delivers COVID-19 emergency medical aid to Afghanistan

  • The aid parcels contain disposable medical masks and protective clothing for quarantine personnel

RIYADH: Emergency medical aid organized under the auspices of the Organization of Islamic Cooperation (OIC) has arrived at Kabul International Airport, ready to be delivered to the Afghan ministries of foreign affairs and public health to combat the COVID-19 pandemic.
The aid parcels containing disposable medical masks, specialized N95 hospital masks and protective clothing for quarantine personnel were handed over to the Afghan authorities in presence of OIC’s Resident Representative in Kabul. 
Meanwhile the Islamic Solidarity Fund (ISF), a subsidiary OIC institution aimed at supporting the least developed member states in their response to the pandemic, especially in the health sector, has also delivered a first tranche of emergency financial assistance to Afghanistan.