The Houthi paralyses the banking market

September 23, 2019

The pro-Iranian Houthi militias have suspended the operation of six financial exchange networks across their control areas without giving reasons for the decision, which came as part of a series of Houthi measures to hit the banking market.

A statement issued by the Central Bank, which is under the control of the houthis militias in Sanaa, said it had decided to “suspend the licenses granted to conduct remittance activities for a number of exchange networks until further notice”,

The statement also warned against dealing with these banking networks
It seems clear that the reasons behind this decision are related to Houthi efforts to impose levies on these banking networks.

Houthi militias have taken a series of measures aimed at undermining the banking sector and forcing its shareholders to pay huge sums, including closing dozens of banks and replacing them with others that follow their leadership, as well as raising the prices of remittances and forcing bankers to pay huge sums.

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