Headquarter - Aden

The Governor's Word

"The CBY's website is a long-awaited new window for communication."

 

Since the issuance of Decree No. (119) of His Excellency, the President of the Republic, Abdo Rabbo Mansour Hadi, for the year 2016, on moving the headquarters and operations management of the Central Bank of Yemen (CBY) from Sana’a to the temporary capital of Aden, based on which the CBY obtained local, regional and international recognition, we can say that the practical beginnings were not really easy. By that time, the CBY's branch had lost many of its previous performance capabilities and its key functions, in addition to the complexities of the political and economic environment surrounding the bank's activity.

At that time, with the support of the political leadership, brothers, and friends, the CBY’s management and its cadres, which were limited in number and qualifications, resolved to embark on a comprehensive stage of advancement for the bank, including the rehabilitation of its infrastructure, the requalification of its cadres, its enhancement with additional human capabilities, its equipment with the necessary means and systems, and the completion of its organizational and structural structure.

Despite all the challenges that the CBY faced, it was able – in record time - to overcome the difficulties, move towards the desired professional work by performing its duties as the State's bank, managing the monetary policy, and maintaining relative stability of the local currency exchange rate, while recognizing the pitfalls imposed by factors beyond its control.

Hence, we can say the stage that has passed since the republican resolution to move the CBY to the temporary capital of Aden has accumulated more experiences and advantages for the bank on the basis of the efforts of the bank's successive leaderships and in light of the continuation of the current leadership’s efforts to develop its human and material capabilities with the aim of improving its performance and raising its level of efficiency. All this reflected itself clearly in the interest of relevant international organizations and their admiration for the CBY's achievement of continuous progress repeatedly confirmed in their reports and assessments of the different international work teams that regularly visit the bank at its headquarters in Aden.

Today, inspired by all these successes, the CBY's official website, which we are announcing its launch after a long delay, represents a new addition and an effective tool for communication via cyberspace that will eventually contribute to deepening links, enhancing interaction with other bankers, specialists, economists and those generally interested in monetary and economic affairs, thereby eventually enabling all of them to stand direct not only on monetary policies, the CBY's operations, and its different activities, but also on the provision of the correct information from its sources and at the same time of the opportunity to know more about the visions and proposals of specialists and those interested in the CBY's work.

Thus, we hope that this website will achieve the goals that we, in the Central Bank of Yemen, aspire and strive for.

May Allah grant us success!

 

Governor of the Central Bank of Yemen (CBY)

Ahmed Obaid Al-Fadhly

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