Imminent Activation of Yemeni Outward Transfers via Domestic Banks

An emblem of the Central Bank of Yemen is seen on the bank's gate in Sana'a August 24, 2016. REUTERS/Khaled Abdullah
An emblem of the Central Bank of Yemen is seen on the bank's gate in Sana'a August 24, 2016. REUTERS/Khaled Abdullah
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Imminent Activation of Yemeni Outward Transfers via Domestic Banks

An emblem of the Central Bank of Yemen is seen on the bank's gate in Sana'a August 24, 2016. REUTERS/Khaled Abdullah
An emblem of the Central Bank of Yemen is seen on the bank's gate in Sana'a August 24, 2016. REUTERS/Khaled Abdullah

Yemeni commercial banks have been informed that outward transfers will be activated soon, but they are required to meet some simple conditions, the Central Bank’s Deputy Governor Khaled al-Abbadi said.

“Most Yemeni banks are responding positively and showing willingness to comply with the conditions and to perform their role,” Abbadi told Asharq Al-Awsat. Some of the conditions are: providing necessary data such as their budget, statistics and the plan to transform their headquarters to Aden in addition to other obligations.

When asked how the support for Yemen's commercial banks would benefit Yemeni citizens, he said the Central Bank’s move would provide sufficient liquidity for the financial system. Consequently, salaries would be paid on time, in addition to witnessing an increase in imports.

Abbadi affirmed that Yemen’s account in the US Federal Reserve would receive the whole revenues. Before opening the account, there were some challenges and obstacles. The first was represented in contacting the other party (Houthi and Saleh) and second tackling all US concerns and responding to all remarks.

His statement was made after he departed from Bank of England in London, when he asserted that he seeks restoring relations between the Yemen Central Bank and the Bank of England that has contributed 53 years ago in the establishment of the first central bank in the Arabian Peninsula.

Abadi added that a work plan has been agreed upon to re-normalize the Yemeni public account in the Bank of England. It is “the biggest account in sterling and we can carry out banking operations worldwide through it.”



Tetteh Urges All Libyans to Engage in Political Process

The Special Representative of the Secretary-General for Libya, Hanna Tetteh and her Deputy for Political Affairs, meet a delegation of civil society organizations from the southern region (UNSMIL)
The Special Representative of the Secretary-General for Libya, Hanna Tetteh and her Deputy for Political Affairs, meet a delegation of civil society organizations from the southern region (UNSMIL)
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Tetteh Urges All Libyans to Engage in Political Process

The Special Representative of the Secretary-General for Libya, Hanna Tetteh and her Deputy for Political Affairs, meet a delegation of civil society organizations from the southern region (UNSMIL)
The Special Representative of the Secretary-General for Libya, Hanna Tetteh and her Deputy for Political Affairs, meet a delegation of civil society organizations from the southern region (UNSMIL)

The Special Representative of the UN Secretary-General for Libya, Hanna Tetteh has stressed the need for all Libyans to actively participate in the political process and play a role in shaping Libya’s future.

Tetteh’s comments came shortly before her briefing to the Security Council on the situation in the North African country.

On Tuesday, the UN Special Representative and her Deputy for Political Affairs, Stephanie Koury, briefed a delegation of 28 representatives of civil society organizations from the southern region, including mayors and municipality members, on the outcomes of the Advisory Committee and the country-wide consultations led by the UN mission regarding the political process, as well as the recent meeting of the International Follow-up Committee in Berlin.

The participants told Tetteh that the ongoing institutional divisions between the east and west are negatively impacting the south.

They expressed a strong desire to see national elections through which all Libyans can choose their leaders and establish unified national institutions.

The southern delegation stressed the importance of ensuring that all cultural components have the opportunity to participate equally as citizens in the governance of the country.

Tetteh then held a meeting with the mayors of Misrata, Tarhouna, Khoms, Zliten, and Qasr al-Akhyar to discuss the options put forward by the Advisory Committee, as well as the ongoing challenges faced by municipalities across Libya.

UNSMIL stated the mayors conveyed their support for the work of the Advisory Committee and submitted a petition to Tetteh expressing their support for inclusive dialogue involving elected municipal councils and an end to the protracted transitional phases in Libya.

The mayors also stressed the need for effective administrative decentralization, and the allocation of resources to the municipalities to support adequate service delivery, and noted that the municipalities were currently underfunded.

They also voiced concerns over irresponsible public spending, which they warned poses a threat to the Libyan state, and called for the adoption of clear criteria for allocations of development funds.

They noted the importance of strengthening decentralization as a means to provide critical support for the Libyan people.

In a related development, the Chairman of the High National Elections Commission (HNEC), Emad Al-Sayeh, met Monday in Tripoli with British Ambassador to Libya Martin Longden to discuss ways the UK can support Libya’s electoral process.

Longden reaffirmed the UK’s commitment to providing technical and advisory support to the HNEC, aimed at strengthening its readiness and ensuring elections are held with integrity and transparency.

Meanwhile, Libya's interim Prime Minister Abdulhamid Dbeibah chaired an expanded meeting on Monday to follow up on the latest developments in the implementation of the “Emmar Tripoli” (Tripoli Re/Development) program, launched by the his government, with the aim of improving infrastructure and enhancing the aesthetic and urban character of the capital.

During the meeting, Dbeibah stressed the need to overcome obstacles and accelerate the pace of work according to the approved timetables, stressing the importance of daily field follow-up to achieve the set goals.