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14-02-18
Yemen assigns ex-finance minister as Central Bank head
(MENAFN) Yemen's Central Bank is to have former Finance Minister Mohammad Zammam as its new governor, after being assigned for the position by President Abed Rabbo Mansour Hadi.
The former finance minister was demanded to be the successor of Former Governor Mansr al-Qaiti in the first 2018 presidential decree.
His appointment brings forth anticipation of restoring order to the banking market and bringing back the Yemeni currency after having over 50% of its value against the dollar collapse.
Saudi Ambassador in Yemen Mohammed bin Said Al-Jaber commented "I hope that the appointment of Zammam as head of the Central Bank would help employ the Saudi deposit of $3 billion, support the Yemeni riyal and strengthen the economy to ease the burden of the people, caused by Iranian-backed Houthi militias."
MENAFN1402201800450000ID1096463853
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