CBY decision offhanded: Chambers of Commerce [Archives:2005/906/Business & Economy]

Mahyoub Al-Kamali
States of panic had dominated the banking market of Yemen following the Watani Bank bankruptcy declaration on 6 December 2005. This took place after economic experts had called on the Central Bank of Yemen (CBY) to work for rehabilitation of the Watani Bank. They predicted that bankruptcy of the bank is probable and would shake investors' and depositors trust and negatively affect activities of the banks in the country.

The Yemeni General Federation of the Chambers of Commerce and Industry (YGFCCI) had on its part criticized the CBY move of taking control of the Watani Bank and deemed it as a “reckless