President Al-Zubaidi Inspects Progress at the Central Bank and Reaffirms Support for Decisions Aimed at Protecting the Banking Sector

President Aidarous Qassem Al-Zubaidi, President of the Southern Transitional Council (STC) and Vice-Chairman of the Presidential Leadership Council (PLC), paid today, Wednesday, an inspection visit to the Central Bank in the capital, Aden, during which his excellency met with Dr. Ahmed Ghaleb Al-Ma'baqi, the governor of the Central Bank (CB), assistant governors, and directors of administrations.

President Al-Zubaidi was briefed on the progress of work at the CB, its specialized administrations, and sections highlighting that his visit comes in support of the measures taken by the board of directors (BoD) of the CB to protect the banking sector in the country and to rescue it from the tampering and systematic blackmail practiced by the terrorist Houthi militias during the past years.

President Al-Zubaidi addressed the governor of the bank, his assistants, and directors, saying: “I am visiting you today on behalf of my esteemed colleagues, the Chairman and members of the PLC, to congratulate the courageous measures you have taken to safeguard the banking sector and stop the Houthi militia's relentless attempts to undermine the national economy through their systematic violations."

President Al-Zubaidi added: "These measures represent a long-overdue national imperative. However, as we move forward, it is crucial that you redouble your efforts to protect the financial and banking sectors while simultaneously embarking on comprehensive financial and administrative reforms. These endeavors are paramount to restoring the confidence of regional and international financial institutions in the CB."

President Al-Zubaidi further elaborated: “We, at the PLC, stand firmly with you, shoulder to shoulder, and you will find nothing but unwavering support and backing in every step you take. Your actions have been met with widespread acclaim, locally, regionally, and internationally."

President Al-Zubaidi concluded his speech by reiterating his unwavering support for the CB to carry out its national duties with professionalism and autonomy, particularly during these extraordinary circumstances, emphasizing that all banks, exchange companies, international organizations, and investors would receive the utmost care and attention and would be provided with every possible security and legal protection in the capital, Aden, and across all liberated governorates.

In response to President Al-Zubaidi's visit, Dr. Al-Ma'baqi, Governor of the CB, gave a speech in which he welcomed President Al-Zubaidi, asserting that the BoD of the CB had been waiting for it for a long time.

The Governor of the Bank went on saying: "Your excellency's esteemed visit to the CB aligns perfectly with the unwavering stance you demonstrated during the recent meeting of the PLC, where you unequivocally declared your absolute support for the CB's decisions and measures aimed at protecting the banking sector and shielding it from the encroachment, extortion, and violations perpetrated by the Houthi militia, which has been internationally designated as a terrorist group."

Dr. Al-Ma'baqi affirmed that President Al-Zubaidi's visit serves as a powerful motivator and driving force for the CB's leadership and staff, inspiring them to exert further efforts to carry out their duties with independence, impartiality, and professionalism, all in service of society, the national economy, and the preservation of stability amidst these exceptionally challenging and complex circumstances, especially after the militias have been targeting oil ports and tankers, disrupting exports, and forcibly displacing traders from ports under the control of the internationally recognized legitimate government to ports under their control by force.

At the conclusion of his speech, Governor Al-Ma'baqi reiterated the CB's unwavering commitment to operating at a high pace across all internal and external levels to restructure its operations, upgrade its systems, enhance transparency and governance standards in its functions, and build the capacity of its staff. Simultaneously, the CB is working to secure financial resources to meet the obligations of the government and society within the limits of feasibility and from all available sources.