Islamic bank to be established with capital of $100 million

The Governor of Central Bank of Yemen Ahmed al-Smawi held a meeting with the executive director of Doha Bank over arrangements to announce establishment of a joint Islamic bank between Cooperative Agricultural Credit Bank and the Doha Bank at capital of $100 million in Yemen. 

They discussed steps taken to announce the establishment of the bank. 

The official of Doha Bank said that the procedures of setting up the back are going ahead to get final acceptance from the Central Bank of Qatar. 

“This meeting is key step to finalize executive measures from the government side of Yemen represented by the Central Bank of Yemen,” he said. 

Al-Smawi also welcomed the Qatari investments in Yemen, voicing readiness of the bank to offer all facilities to set up this new bank.  He also said that the bank is ready to support joint projects between Doha Bank and the CAC Bank.

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