Bank Aden Governor: UAE sets new condition for disbursement of deposit

The Saudi-led coalition-backed government on Sunday revealed a new condition set by UAE for the disbursement of the part of the deposit.

This came during a meeting devoted to discussing the reforms required of the coalition to absorb the Saudi-Emirati deposit.

Governor of Aden Bank said that the UAE stipulated the disbursement of the deposit to strengthen the cash reserve and support the currency, indicating that it will not be disbursed.

He said that he was summoned to the UAE.

The governor pointed out that Saudi Arabia’s insistence on subjecting the new deposit to the Arab Monetary Fund instead of the two centers of Aden.

At the end of its meeting, the coalition-backed government announced the formation of a new technical team to follow up on the required reform, in a confirmation of the coalition’s refusal to fulfill its obligations with the deposit it announced to support its new authority in southern Yemen.

E.M