Govt. discusses report on Global Crisis impacts on banking sector

SANA'A, Oct. 21 (Saba) - The government discussed here in its
Tuesday meeting a report on the potential impacts of the Global
Finance Crisis on the Yemeni banking sector and the foreign
investment of the Central Bank of Yemen (CBY).

The report presented by CBY's Governor addressed the Central Bank's
reserves and its management process that contributed not to be
affected by the global crisis, noting that the reserves would be
invested in high-ranked banks.

The report highlighted that the safety factor is a top priority in
the bank's investment policy, indicating to the reforms the CBY made
previously under the financial reform program.

The government praised the bank's report, emphasizing the
significance of holding monthly meetings of the Supreme Economic
Council to follow up the consequences of the Global Crisis.