Al-Balagh [Archives:2003/664/Press Review]

September 1 2003

26 August 2003
Main headlines:
– In a recent study by the National Institute for Democracy in, 30% of parliament members are tribal sheikhs, 26% tradesmen and 13% sons of officials
– Warnings against attack on American ports and naval bases
– Oil trade Union calls for a comprehensive strike
– American cultural attache announces the start of implementing electronic education program in Yemen
– The popular committee in Mahweet denounces behaviour of security men
The editor in chief of the newspaper says in his article judiciary remains the essential and major axis of any investment operation or economic development especially in attracting Arab and foreign capitals. Yemen has understood this significance and therefore began the process of judiciary reform that may take a long time. And due to the importance of investment in our country a court specialized in dealing with trade issues has been established with the aim of realizing justice and guarantees interests of capitalists away from the mafia of corruption and corruption of judgments.
The writer in his article submits the question with regard of the possibility and rightness of abolishing a bank guarantee. The writer says he has put his question about this matter before some specialists who told him that a bank guarantee issued by any side could not be abolished by the beneficiaries or the bank that it has issued it or even by a judiciary judgment. Abolishing a bank guarantee leads to losing the economic trust in the bank and trade dealings. The people responsible for protection of capitals and attracting investments should ponder seriously on the process of reforming the trade courts in particular and the judiciary in general.