CBY decides to reduce profits on rials deposit to 12percent

SANA'A, Jan. 11 (Saba)-The Central Bank of Yemen YCB decided on
Sunday to reduce profits on rials deposit from 13 percent to 12
percent.

In a meeting for the monetary committee at the bank, the committee
affirmed importance of comply all banks with the decision, saying
that such decision would contribute to reduce funding coast on the
Yemeni imports and loan coast in general.

The meeting also discussed current developments in price of benefits
and rates of the inflation during 2008 within slow growth for the
global economy.

The committee also listened to reports over the local banking
developments in the light of the impacts of the international
financial crisis.

The reports affirmed that the banking sector of the country didn't
affect with these impacts and "safe".