Houthi militia worked to destroy the banking sector and used it to launder and loot money

Houthi militia worked to destroy the banking sector and used it to launder and loot money

An initiative concerned with tracking funds looted by the Houthi militia recommended facilitating the transfer of banks from Sana'a to the liberated areas, referring to the Houthi violations that destroyed the banking sector during the past years. In a new report entitled "Houthi's Destruction of the Banking Sector - Money Laundering and Looting," the "Restore" initiative focused on the serious violations committed by the Houthi militia against banks in the capital, Sana'a, and several provinces.

The initiative emphasized that the coup group had harmed the banking sector, which was forced to work in a difficult environment characterized by many challenges, most notably a severe cash liquidity crisis, and the weak confidence of depositors in banks, due to the restriction of withdrawing deposits in local and foreign currency from banks.

The initiative's report sheds light on the impact of the Houthi coup on the banking sector, the repercussions of Houthi targeting of the banking sector, the cash liquidity crisis, overdrafts, the deterioration of the Yemeni riyal, the division of monetary policy, the prevention of circulation of any new monetary prints, the targeting and bankruptcy of banks, external isolation, and the opening of fake accounts, looting of customer balances, and a decree banning usurious transactions.

The voluntary initiative concerned with monitoring and documenting Houthi crimes of looting public and private property, and supporting and assisting those affected to restore their rights, documented in its report the large cracks in the Yemeni banking system due to the Houthi destruction, which constitutes an existential threat to the survival of the banking sector to perform its normal tasks as it was before the crisis.

القائمة البريدية

أشترك معنا في القائمة البريدية لتصلك كل الاخبار التي تنشرها الصحوة نت

تواصل معنا

الجمهورية اليمنية


الصحوة نت © 2023 م

الى الأعلى