Central Bank of YemenContinues to train its employees [Archives:2004/774/Business & Economy]

September 20 2004

By Fahmia AL-Fotih
For the Yemen Times

Mr. Ahmed Abdualrahman AL-Samwi, the Governor of the Central Bank, on Wednesday 15th September opened a workshop on financial analysis. The workshop was organized by the Central Bank in collaboration with the British Project for Financial Management.
A cadre of thirty employees of the Central Bank participated in the workshop.
In the opening ceremony, the governor highlighted some of the dramatic transformations that the Yemeni banking sector has witnessed recently, such as updates to day-to-day banking technology and the addition of new banking services like cards and automatic paying machines, provided to the market centers and companies throughout Yemen, which enable electronic payment.
Al-Samwi mentioned that there is coordination with the central banks in Gulf Cooperation Council (GCC) and communication with them to connect the Yemeni network to the GCC's.
The budget for the banking sector for the past six months was approximately YR 530 billion. Yemeni banks have used approximately YR 150 billion to provide more grants and finances to various economic activities. The banks also support various allocations particularly unorganized loans in which they cover 85%.
Al-Samwi indicated that these expansions in the banking industry necessitate training for Yemeni banking staff in order to familiarize them with the latest banking developments.
The governor also pointed out the recent decision of the board of directors to raise the minimum capital requirement of banks wishing to enter the Yemeni market to $30 million, and asked current banks to adapt themselves to the new decision.
The deputies of the Central Banks and the representative of the British Project also attended the opening ceremony.
In the same field of training banking staff, last month the Governor of the Central Bank attended the closing ceremony of two programs; the art of communication and customer service, and the principles of bank marketing, that took place at Institute of Banking Studies I.B.C.
Mr. Ali Hameed, the , manager of public relations, told the Yemen Times “The first of the two programs held by the Institute of Banking Studies was about dealing with the public, it targeted public relations administrators in institutions and banks. The second program was about financial analysis. The programs were the first activities for I.B.C. since moving to its new premises. More than ten trade banks, including the Central Bank, participated in those programs.”
He said further “Training and rehabilitation, to ensure the efficiency of employees, is one of the main banking priorities. So the bank arranges activities and workshops and utilizes local and international experts to improve the competence of its employees.”
A speech was also delivered by Mr. Ameir AL-Qirshi, the head of I.B.C., to welcome the attendees, and another by Mr. Mohammed AL-Hamadni, on behalf of the participants.
At the end, certificates were awarded to the participants from a number of national banks.
It is worth mentioning that the late Mr. Zain AL-Saqqaf was a prominent figure in, and one of the founders of, I.B.C.