CBY governor, Lebanese Economy Minister discuss financing, banking

SANA'A, March 08 (Saba) - Governor of the Central Bank of Yemen(CBY)
Ahmed al-Samwai and Lebanese Minister of Economy and Trade Sami
Haddad discussed here on Sunday areas if cooperation between the two
countries in finance and banking fields.

During the meeting, the two sides affirmed the importance of
exchanging the experiences in these fields, which will contribute to
achieve the mutual benefits of the two brotherly countries.

The meeting also dealt with the development of the global financial
crisis, and the plans the two countries have taken to avoid the
negative effects of this crisis.

Al-Samwai reviewed the with Lebanese official the procedures taken
by CBY to develop the banks' capacity and rise the capital adequacy
standard, which amounted to 12%, while Basel standard to 8%.

The procedures taken by CBY and Yemeni banks' obligation to
insurance standard as well as the gradual increase of capital were
the reasons that Yemen was not affected by the global crisis, he
added.