Government annual subsidies total YR 300 millionACCB branch inaugurated in Crater, Aden [Archives:2004/792/Business & Economy]

November 22 2004

Ridhwan Al-Saqqaf
Agricultural Credit Cooperative Bank (ACCB) plays a significant role in the economical and social development; it performs all activities of banking including savings, offering facilities, guarantees, allotments and all commercial services that are needed by the bank's customers. The bank is trying to improve the performance of its branches in all provinces following the international changes and challenges the economical congregations and the free trade especially the World Trade Organization with their basic frames.
In this respect, ACCB services are spread in all Yemeni cities and Aden, in particular, obtains the highest position as the economical and commercial capital of Yemen and because of the promising area, the free zone. It is a very distinguished and famous port in the history of the international navigation; it has an economical location in the international trade field.
On the occasion of the celebration of the Yemeni revolutions, ACCB launched banking in Crater's branch to be the second in Aden, the previous branch of Al-Mansoura. The beginning of banking in the new branch was under the supervision of Hafidh Fakher Me'yad, ACCB Chairman of the board of directors, and Abdullah Mohammed Basheer, Deputy General Manager.
Me'yad explained that, “the new branch in Crater as well as the branch of Al-Mansoura and other 33 branches in other provinces will offer the best banking services throughout using the automatic cashier, selling points, and distinctive services to the bank's customers. The bank will improve its dealings with all social classes; it will not be confined in specific classes. The government presents throughout the Agricultural Encouragement Fund YR 300 million to annually support the Yemeni farmers confirming that the opening a new branch in Crater came in the frame of the Central Bank of Yemen to boost the economical and social development. That's among the efforts for achieving the entire constructional and economical development and the globalization of banking.”
He pointed out that the bank has an effective noticeable activity in the field of allotments, guarantees, and facilities for insurance and investment promotion. The bank presented YR 4 billion in the past years.
He confirmed that ACCB is devoting its efforts to present the best banking services on the national level. The bank is working on convincing its customers with the developed systems permanently. It also has overspread general relations with all unions besides whatever individual loans it offers. At the time of launching the ACCB branch in Crater, we run the following interview with Amar Abdullatif Al-Majmer, Charged manager of the branch.

Q. What are the activities of ACCB branch in Crater?
A. This branch does all kinds of banking including attracting savings, offering facilities, guarantees, allotments and all trade services the are required by the ACCB customers.

Q. What distinguishes the ACCB from the other banks?
A. It's distinguished with being spread in all provinces. This feature allows it to present better services. In addition, it has strong external relations with great banks that have worldwide branches.

Q. What about the deposits in this branch?
A. We accept deposits and give interest according to the laws of the Central Bank of Yemen. The current accounts and savings are available here. About the individual loans, there will be priority for the authorities and establishments that deal with the bank and give their employees' salaries via the bank.

Q. What are the preparations of the bank for facing the internal and external challenges of banking?
A. The government is trying to improve banking services in order to decrease the average of monetary exchange that leads to inflation and lowering the value of currency. We constructed Money Laundering Fight Unit obeying the rules of the Central Bank of Yemen in this respect.

Q. How do you evaluate the importance of this branch?
A. It comes in the frame of raising awareness about banking in the society, and reinforcing the investment, and attracting savings that make an economical movement in Yemen.

Q. What about ACCB ambitions in the field of investment promotion?
A. We are in good relations with those who are abroad promoting investment in Yemen. The bank becomes the link between businessmen.

Q. What does Aden mean to the activities of the bank?
A. Aden is the economical and commercial capital of Yemen. It is the main port and the free zone; it surely has a special position.

Q. In the field of using modern technology in the branch of ACCB, what do you intend to do?
A. The modernist technologies are being entered in all ACCB activities in order to make speed dealings that are in proportion to the customers' needs. The bank aims to distinctive interaction with banks and the decreasing of monetary constrictions. The automatic cashier will be entered soon to cover the important places on the level of cities and many selling points will be distributed and Visa Card will be used. ACCB has a strategic policy and great expectations in presenting many services exceeding to the desires of its customers meeting their needs.

Q. What do you want to say to the audience interacting them with the bank activities?
A. We confirm the significance of dealing with banks and not keeping money in their possession. The monetary dealings should go through banks, which have strategic policy and great expectations to offer services living up to the level of customers' ambitions. The public should be insured that it would get the best treatment in sense of speed accomplishments of banking.