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Central Bank of Yemen

 

Central Bank of Yemen Logo

The Central Bank of Yemen (Arabic: البنك المركزي اليمني) was established in 1971 and is an independent body created by Law to carry out all the functions of a normal central bank with the paramount objective of conducting monetary policy to keep inflation under control, stabilize the exchange rate of the national currency and promote investment and economic growth.

 
 

The management of the Bank is entrusted to a Board of Directors with the Governor as Chairman. The head office of the Central Bank of Yemen is located in Sanaa. However it has a branch in each of the twenty Governorates of the country.

The Central Bank of Yemen uses all the tools of monetary policy at its disposal in order to keep inflation under control, stabilize the exchange rate of the national currency and create an environment that is conducive to investment and high growth. The Central Bank of Yemen is the body which issues the banknotes and coins of the country. The national currency of Yemen is the Rial.


The Bank is the custodian of the official foreign reserves of the country, which it invests and manages in the best interests of the national economy. The Central Bank of Yemen maintains accounts for the commercial banks and acts as a clearing house for their transactions. The commercial banks keep statutory reserves with the Central Bank as a ratio of their deposits. In Yemen, the commercial banks are free to deal in the foreign exchange market and are allowed to keep balances in foreign currencies for their account at home and abroad.

Central Bank of Yemen HQ Location Map

Central Bank of Yemen
HQ Address: Ali Abdul Mughni St.
Sana'a
Yemen
Tel: +967 1 274 314
Fax: +967 1 274 082
Website: www.centralbank.gov.ye
Swift Code: CBYEYESA
Currency: Rial
Banking Hours:
Saturday - Thursday : 8.30am - 12.00pm
 

 

Beside maintaining accounts for the various Government ministries and agencies, the Bank also keeps accounts in the name of international institutions from which it makes payment orders to the concerned parties as instructed. The Central Bank of Yemen supervises the banking system with a view to promoting its soundness and protecting the interests of depositors and shareholders. There are seventeen commercial banks in the country, four of which are Islamic.
 
 

List of banks governed by the Central Bank of Yemen
» Arab Bank Limited » Credit Agricole CIB » Cooperative and Agricultural Credit Bank
» Housing Bank » International Bank of Yemen » Islamic Bank of Yemen
» National Bank of Yemen » Qatar National Bank » Rafidan Bank
» Saba Islamic Bank » Shamil Bank of Yemen and Bahrain » Tadhamon International Islamic Bank
» The Yemen Bank for Reconstruction and Development » United Bank Limited » Yemen Commercial Bank
» Yemen Gulf Bank » Yemen Kuwait Bank for Trade and Investment

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