Yemen Commercial Bank announces new electronic services [Archives:2006/909/Local News]

January 5 2006

Abdulalem Al-Shara'bi
SANA'A, Jan. 3 ) On the occasion of the New Year, Yemen Commercial Bank announced its new electronic banking services: ATM debit cards, point of sale, telephone and SMS banking.

Chairman Sheikh Mohammed Bin Yahia Al-Rowaishan said this new era confirms Yemen Commercial Bank's leadership in the local market.

One of Yemen's first national banks, it was established February 4, 1993 by a group of key Yemeni businessmen and financial market leaders. Al-Rowaishan noted that YCB is a closed shareholding company with a 90 percent share and 10 percent for Yemen Oil Company.

“Through its network of eight branches in Sana'a and other main cities, the bank is able to provide comprehensive banking services to all market sectors,” he said.

He also mentioned that YCB was the first commercial bank established after the Yemeni unity. It provides retail and corporate clients a range of banking products and services in a professional and efficient environment using advanced methods and techniques to enter international markets through its network of worldwide correspondents.

General Manager Ayed Al-Mashni said the bank aims to open five new branches in Sana'a and other main cities in 2006. He added that YCB is one of the first Yemeni banks to implement real-time online automation in its banking operations, thereby improving its customer service level, in addition to normal banking services such as deposits in Yemeni Riyals and other currencies, remittances, current and saving accounts, personal loans, Swift and other services.

Additionally, he said YCB invests in its equipment and qualifies employees in introducing unique services, which positions YCB as one of the market leaders.

Hani Idris, Executive Consultant for Retail and Marketing, believes YCB capitalizes on its strengths, as it was one of the first to issue Visa and MasterCard in Yemen, as well as Yemen's first Money Gram agent.

YCB recently launched four electronic banking services over a two-week period: ATM debit cards, point of sale, telephone and SMS banking.

Idris said YCB will launch an average of one product, program or service monthly throughout 2006. Such an aggressive plan will assure YCB's leadership in banking techniques and customer service.