YEMEN ECONOMY

Digital wallets launched in Yemen amid liquidity crisis

epa11391632 The headquarters of the Houthis-held Central Bank of Yemen, amid a shortage of liquidity, in Sana'a, Yemen, 05 June 2024. Digital Jawali wallet, with nearly one million subscribers, is one of the smartphone apps that have been launched by some companies in Yemen for transferring money and paying for goods and services digitally, amid a liquidity crisis in both foreign and domestic currency, according to a statement by the management of digital Jawali wallet. The Saudi-backed government-run Central Bank of Yemen has suspended dealings and foreign money transfers with six major commercial banks operating in the Houthi-controlled areas of the war-ravaged country, after the US designated the Houthis as a terrorist group, in response to their attacks on commercial shipping lanes in the Red Sea and the Gulf of Aden, according to a statement by the Yemeni government. EPA/YAHYA ARHAB

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