Yemen Central Bank Acts to Stop Currency Collapse, Money Laundering

Central Bank of Yemen in Aden(Saba News Agency)
Central Bank of Yemen in Aden(Saba News Agency)
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Yemen Central Bank Acts to Stop Currency Collapse, Money Laundering

Central Bank of Yemen in Aden(Saba News Agency)
Central Bank of Yemen in Aden(Saba News Agency)

The Central Bank of Yemen is taking action to address the plummeting value of the Yemeni rial and combat financial crimes. This follows the second installment of a $250 million grant from Saudi Arabia to the Yemeni government.

Despite previous efforts to stabilize the exchange rate through regular currency auctions, disruptions in oil exports due to Houthi attacks on ports have caused the rial to drop.

According to banking insiders who spoke with Asharq Al-Awsat, the second installment of Saudi aid is helping the Central Bank manage currency markets and stabilize the Yemeni rial’s exchange rate, which has been declining due to halted oil exports.

The Central Bank’s decision to auction $60 million this week is seen as a key move to halt the rial’s slide.

Since the appointment of new Prime Minister Ahmed Awad bin Mubarak, the local currency has been fluctuating.

Government-controlled exchange markets have been unstable due to irregular salary payments in recent months.

Currency exchange shops reported 1622 rials per dollar on Monday, according to traders who spoke to Asharq Al-Awsat.

At the same time, in efforts to control the banking sector and fight money laundering, the Central Bank of Yemen has received support from the Public Funds Court in Aden, Yemen’s interim capital.

This support backs the Central Bank’s requests for access to all banking transaction data from some commercial banks.

Additionally, these banks are required to provide all necessary information to the Anti-Money Laundering Unit for transaction verification. Two commercial banks have been found guilty of breaking the law.

Official sources report that the Public Funds Court in Aden has convicted Yemen International Bank. The bank was found guilty of failing to adhere to anti-money laundering and terrorism financing laws.



Al-Malki Warns Houthis to Read Coalition Statement Carefully

Maj. Gen. Turki al-Malki speaks during a news conference in Riyadh on Thursday (AP)
Maj. Gen. Turki al-Malki speaks during a news conference in Riyadh on Thursday (AP)
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Al-Malki Warns Houthis to Read Coalition Statement Carefully

Maj. Gen. Turki al-Malki speaks during a news conference in Riyadh on Thursday (AP)
Maj. Gen. Turki al-Malki speaks during a news conference in Riyadh on Thursday (AP)

Maj. Gen. Turki al-Malki, spokesman for the Arab Coalition to Support Legitimacy in Yemen, warned the Houthis against targeting civilians and civilian facilities in Saudi Arabia, saying coalition forces were fully capable of confronting missiles, drones and cruise missiles.

 

Speaking at a news conference in Riyadh on Thursday evening, al-Malki urged the Houthis to halt attacks on civilians and civilian infrastructure in the kingdom.

 

“The terrorist Houthi millitias must stop their attacks on civilians in Saudi Arabia, and they should carefully read the coalition’s statement — and between the lines,” he said.

 

Al-Malki said the Houthis had obtained advanced technology with the help of regional parties, enabling them to acquire ballistic missiles, attack and suicide drones and explosive-laden fast boats.

 

He said the development placed responsibility on the international community to prevent terrorist groups from gaining access to advanced weapons and technology.

 

“The leadership of the coalition’s joint forces affirms that its operations will continue to deter the terrorist Houthi millitias from attempting to target civilians and civilian facilities in Saudi Arabia and from threatening freedom of navigation in the southern Red Sea and the Bab al-Mandab Strait,” he said.

 

Al-Malki also reaffirmed support for Yemen’s internationally recognized government and armed forces “on all fronts,” along with round-the-clock air support for units on the ground.

 

19 killed, 364 injured

 

Al-Malki said Houthi attacks on airports in the kingdom had killed 19 people and injured 364, adding that 1,104 missiles and 1,135 drones had been launched since operations began.

 

He said Houthi attempts to target Islam’s two holiest mosques reflected a systematic hostile approach and amounted to a “heinous act” aimed at pilgrims and visitors.

 

According to al-Malki, Houthi violations since the 2022 truce included about 175 ballistic missiles, 330 drones, 2,229 projectiles launched from drones and 28,121 unidentified projectiles.

 

He stressed that Saudi Arabia had the intelligence capabilities to identify targets and confront threats.

 

“We have the capability to deal with these missiles, drones and cruise missiles,” he said.

 

During the news conference, al-Malki showed footage of coalition aircraft striking ballistic missile launchers, weapons depots and facilities he said the Houthis used to support military operations.

 

He said coalition forces had also neutralized an imminent ballistic missile attack on the kingdom.

 

Attacks threaten passenger safety

 

Al-Malki condemned Houthi attacks on civilians and civilian facilities in Saudi Arabia, including King Khalid International Airport in Riyadh, noting that thousands of passengers and civilians use such facilities every day.

 

He also pointed to attempted attacks on airports, ports and oil facilities in the kingdom.

 

Al-Malki said Houthi attacks on civilians were a flagrant violation of international norms, adding that attacks on airports “undermine the kingdom’s security, threaten international air traffic and endanger the lives of passengers of various nationalities.”

 

He said the coalition had destroyed 127 storage facilities in mountainous areas and a launch platform in Yemen.

 

Al-Malki said the Houthis had built mountain storage facilities concentrated in Sanaa, Saada and Amran, from which attacks were launched against Yemen and neighboring countries.

 

“The leadership of the coalition’s joint forces is working to dismantle this network and eliminate the experts and operators behind these capabilities by destroying mountain storage facilities and fixed and mobile launch platforms, based on an intelligence system operating around the clock,” he said.

 

Saudi defense systems on high alert

 

Al-Malki said the Saudi armed forces had advanced, highly combat-ready systems, including air defenses capable of intercepting threats and thwarting attempted attacks.

 

He said the systems were designed to protect the kingdom’s sovereignty, security, strategic assets and holy sites, as well as citizens and residents.

 

“We have the capability to identify the locations used by the Houthi militias, and we are working to dismantle the terrorist network and eliminate the experts involved,” he said.

 

Al-Malki again stressed the coalition’s strict commitment to international humanitarian law, saying it had taken all feasible precautions to avoid civilian casualties or damage while planning operations to neutralize Houthi capabilities used in attacks.


Araghchi Aide in Beirut Assesses Concerns of Shiite Duo

Lebanese Parliament Speaker Nabih Berri receives Iranian Deputy Foreign Minister Saeed Khatibzadeh in Beirut (EPA)
Lebanese Parliament Speaker Nabih Berri receives Iranian Deputy Foreign Minister Saeed Khatibzadeh in Beirut (EPA)
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Araghchi Aide in Beirut Assesses Concerns of Shiite Duo

Lebanese Parliament Speaker Nabih Berri receives Iranian Deputy Foreign Minister Saeed Khatibzadeh in Beirut (EPA)
Lebanese Parliament Speaker Nabih Berri receives Iranian Deputy Foreign Minister Saeed Khatibzadeh in Beirut (EPA)

Iranian Foreign Minister Abbas Araghchi’s call with Lebanese President Joseph Aoun coincided with the arrival in Beirut of his aide, Saeed Khatibzadeh, as Tehran moved to reassert its presence in Lebanon after a prolonged absence.

Well-informed Lebanese sources said the Iranian push came amid differences with Aoun and Prime Minister Nawaf Salam over their approach to Lebanon, while Tehran also sought to contain tensions caused by the withdrawal of Mohammad Reza Sheibani’s credentials as Iran’s ambassador to Lebanon.

Araghchi and Aoun agreed on the need to support diplomatic solutions as the best way to end conflicts in the region, according to the Lebanese presidency.

The sources told Asharq Al-Awsat that Araghchi told Aoun Iran remained committed to the Iranian-American “memorandum of understanding” and to implementing all its provisions, including one calling for an end to wars on all fronts, Lebanon among them.

He blamed the United States for the failure to implement the agreement, accusing Washington of imposing “impossible conditions whenever we come close to implementing it” and saying mediators had continued trying to persuade it to return to negotiations rather than threaten renewed war.

Political message

The sources said Araghchi’s call was intended to send a political message that Tehran remained present in the Lebanese file and that “the tension caused by the withdrawal of Ambassador Sheibani’s credentials is now behind us.”

They said the issue no longer blocked renewed contact with Aoun, who, along with most Lebanese political forces, remains committed to the “framework agreement” and has no intention of replacing it with the Iranian-American “memorandum of understanding.”

Hezbollah’s opponents, meanwhile, viewed Khatibzadeh’s Beirut visit as primarily Shi’ite-focused and aimed at assessing the concerns of the “Shiite duo,” Hezbollah and the Amal Movement.

The sources said that explained his meetings with Parliament Speaker Nabih Berri and Hezbollah’s leadership.

The contrast in tone was clear.

Diplomacy dominated Araghchi’s call with Aoun. Khatibzadeh, by contrast, spoke in much harsher terms.

He was quoted as telling journalists that “negotiations are pointless, and we are preparing for the worst-case scenarios,” and that direct talks between Lebanon and Israel would lead nowhere because Israel was “an occupying entity.”

He said Israel wanted to use negotiations as a first step toward expanding its dominance across the region and ultimately achieving what is known as “Greater Israel.”

“As long as the Israeli occupation remains in southern Lebanon, the resistance will remain, weapons will continue to be necessary, and anyone who cares about Lebanon’s interests should support this approach,” he was quoted as saying.

Asked about ties between Iran and Hezbollah, Khatibzadeh said the relationship was “not hierarchical, from the top down,” and that Iran did not interfere in Lebanese affairs, which were “left to the Lebanese themselves.”

He also claimed that “Hezbollah does not ask us what it should do, but it sometimes asks us how it can be more steadfast and tougher in confronting the enemy, while avoiding asking us about Lebanon’s internal affairs.”

Iran-US negotiations

Khatibzadeh also addressed Iranian-American negotiations, saying there was little prospect of an agreement.

“The chances of reaching an agreement are, so far, nonexistent, as shown by previous experience when Washington launched a war against us while negotiations were still underway,” he was quoted as telling journalists.

He also pointed to differences within the United States, saying one camp did not want to implement the provisions of the “memorandum of understanding,” while another had sought an agreement.

“The administration of US President Donald Trump is suffering from internal fragmentation. Otherwise, had it honored its commitments, we would have reached an agreement,” Khatibzadeh said.

He added that the United States’ power had been broken and would be broken again.

Asked about the direction of events in the region, he said “Political realism requires us to say that, until further notice, we have the right to prepare for the worst-case scenarios in the face of American threats.”

Iran’s relations with Syria

On Syria, Khatibzadeh said Iran was “in no hurry.”

“We are ready to communicate with Syria when it decides to do so. It is currently going through a sensitive and dangerous phase, and Türkiye committed a strategic mistake and contributed to the Israeli-American ‘puzzle,’ one result of which was that Syria handed Israel a gift,” he said.

The sources said, therefore, that Khatibzadeh’s meetings in Beirut reflected no change in Iran’s position.

His remarks, they said, were meant to stress Tehran’s adherence to its existing stance, which largely aligns with Hezbollah Secretary-General Naim Qassem’s rejection of the “framework agreement.”

The sources asked whether Khatibzadeh had carried a message aimed largely at stirring opposition to the “framework agreement,” without naming it directly, in contrast with Araghchi’s emphasis to Aoun on diplomatic solutions.

Araghchi’s diplomacy was thus met by a much harder line from his aide, raising the question of whether Khatibzadeh was conveying a message closer in substance to the position of Iran’s Revolutionary Guards than to that of the political camp Araghchi represents within the Iranian establishment.

Otherwise, the sources said, he would not have needed to make statements amounting to interference in Lebanese affairs, the kind of positions that have fueled the tensions still weighing on Lebanese-Iranian relations.

Those positions have been firmly rejected by a majority of Lebanese who support the “framework agreement” and back Aoun’s diplomatic approach after Hezbollah pursued the military option, leaving the country with incalculable human and material costs.


Morocco’s New Parliament Speaker: Ahmed Touizi’s Rise to the Top of the Legislature

Morocco’s new parliament speaker, Ahmed Touizi (AFP)
Morocco’s new parliament speaker, Ahmed Touizi (AFP)
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Morocco’s New Parliament Speaker: Ahmed Touizi’s Rise to the Top of the Legislature

Morocco’s new parliament speaker, Ahmed Touizi (AFP)
Morocco’s new parliament speaker, Ahmed Touizi (AFP)

Ahmed Touizi’s rise to become Morocco’s parliament speaker in October 2026 marks the opening of a new political phase after a reshaping of the country’s governing majority and opposition.

The elevation of the senior Authenticity and Modernity Party figure to lead the House of Representatives directly reflects the legislative election results and the balance of power among parties in parliament.

It also puts his long record in education, local government and regional administration under closer institutional scrutiny.

As Touizi begins his five-year term, he faces major organizational and constitutional challenges.

He must steer legislative debate with balance and manage competition between the governing majority and opposition groups at equal distance, safeguarding the rights of all sides while preserving the authority of the institution.

The parliamentary showdown and the numbers behind the vote

Touizi capped his political career by being elected parliament speaker at a plenary session on Tuesday, Oct. 13, 2026.

He secured what is regarded as the third-highest constitutional office in the state with an absolute majority of 220 votes, backed strongly by the parties in the new governing coalition.

His main rival, Idriss El Azami El Idrissi of the opposition Justice and Development Party, won 59 votes.

The ballot also carried a quieter political message. Of the 369 votes cast, 90 were blank or invalid, reflecting the scale of underlying tensions inside the legislature.

The House completed the formation of its constitutional bodies the following day. Lawmakers unanimously approved a single list with 293 votes, establishing the chamber’s bureau under the principle of proportional representation and appointing eight deputy speakers.

Mustapha Baitas of the National Rally of Independents was named first deputy speaker and Khalid Chennak of the Istiqlal Party was second deputy speaker.

They were joined by Abdellah Bouanou of the Justice and Development Party and Mohamed Ouzzine of the Popular Movement.

The restructuring also extended to the heads of the chamber’s nine permanent committees, the core engines of the legislative process.

Mohamed El Gharass of the Constitutional Union was appointed head of the Foreign Affairs Committee, Moncef Toub of the Istiqlal Party the Interior Committee, Mohamed Ghiyath of the National Rally of Independents the Justice and Legislation Committee, and Hicham El Mhajri of the Authenticity and Modernity Party the Finance Committee.

Mustapha Ibrahimi of the Justice and Development Party was named head of the Social Sectors Committee, Mohamed Al Aaraj of the Popular Movement the Productive Sectors Committee, Abdelhak Amghar of the Socialist Union of Popular Forces the Infrastructure Committee, Hassan Derham of the Party of Progress and Socialism the Education and Culture Committee, and Hanan El Masi of the Authenticity and Modernity Party the Public Finance Oversight Committee.

From the geographic margins to the top of the legislature

Touizi’s political career is closely tied to his stronghold in Al Haouz province, particularly the town of Ait Ourir near Marrakesh.

The mountainous, developing area was more than his birthplace and childhood home. It became his decisive electoral base and the platform from which he built his political influence.

That deep local connection gave him grassroots legitimacy, but it also brought persistent criticism. Local actors and opponents have argued that his record in local administration failed to deliver the hoped-for development gains in his hometown and surrounding areas.

From natural sciences teacher to politics

The new parliament speaker is 71 and was born in the 1950s, living through the major transformations of modern Morocco.

Touizi studied science before entering public service as a natural sciences teacher in Morocco’s public education system.

Throughout his career, he has repeatedly invoked his roots as an educator in his speeches. For years, that background shaped both his political rhetoric and his direct communication with ordinary citizens before he turned full-time to electoral and institutional politics.

Political pragmatism and a long journey across parties

Touizi’s partisan record shows clear political flexibility and an ability to adapt to shifts in Morocco’s party landscape and changing balances of power.

He began his political career in 1974 within organizations linked to the National Union of Popular Forces in Marrakesh, then associated with a radical leftist current.

As Morocco’s political landscape shifted, Touizi moved among several parties, including the Constitutional Union and the Popular Movement, before joining the liberal Authenticity and Modernity Party.

He rose through its ranks to become a member of its political bureau and one of the leading figures shaping its parliamentary balance.

From local government to the legislative engine room

Touizi has held a succession of local and legislative posts over several decades.

He served as president of the Ait Ourir municipal council for several consecutive terms, becoming a familiar figure in local administration.

He expanded that territorial influence when he was elected president of the Marrakesh-Tensift-Al Haouz regional council from 2011 to 2016, before Morocco adopted its current regional structure.

His career also extended to parliament. He spent years in the House of Councilors, where he served as a chamber quaestor, before moving to the House of Representatives as a lawmaker for the Al Haouz constituency.

He later headed the Authenticity and Modernity Party’s parliamentary group during the previous legislative term, gaining detailed knowledge of the inner workings of lawmaking and the balance between parliamentary blocs.

Taking the speaker’s chair and inheriting a long legacy

Touizi succeeds Rachid Talbi Alami of the National Rally of Independents as parliament speaker.

His election also places him in a long line of prominent figures who have led Morocco’s legislative institution since the early post-independence period.

They include Mehdi Ben Barka in the National Consultative Council, Abdelkrim Al Khatib, Dey Ould Sidi Baba and Ahmed Osman, who led the parliamentary institution for the longest uninterrupted period, as well as Abdelwahed Radi, Mustapha Mansouri, Karim Ghellab and Habib El Malki.