Appeals court halves verdict against Watani Bank chairman

SANA'A, Nov. 18 (Saba)- The Sana'a Court of Appeals halved on
Tuesday a sentence against Ahmad Al-Hamdani, chairman of Watani Bank
for Trade and Investment from two year in jail to one year.

However, the court shouldered him responsibility of loans and
acquitted him from accusation of bribe.

The court also acquitted third defendant Thar Ahmed Shalan, eighth
defendant Abdullah al-Khawlani, sixth defendant Hizam Ahmed Ismail
al-Rob and fifth defendant Abduh Mahiob Abdullah and seventh
defendant Naji al-Ghadar.

It also upheld the sentence against second defendant Abdulellah
al-Mamari, fourth defendant Saeed Shabih Naqwi, a Pakistani, ninth
defendant Abdullah al-Maznani and tenth defendant Abdul-Wasa
al-Adimi, and eleventh defendant Saleh al-Yafai.

The committee in charge of investigating the bank, after the Central Bank of Yemen
(CBY) took control of it in late 2005 when it failed to fulfill its financial
obligations, distributed nearly YR 6.5 billion, accounting
for 39 percent of the bank's total debts and deposits, to depositors.

The court of appeals' preliminary section sentenced Al-Hamdani in March 2006 to two
years in prison and other management
members to eight months each, but the defendants appealed the verdict.

Watani bank is the first bank in Yemen to face firm measures and was shut down by
the CBY and its board of directors
faced condemnation.