Yemeni banks encouraged to integrate [Archives:2005/907/Local News]

SANA'A, Dec. 27 ) While inaugurating the Yemeni Banking Guide, recently issued by Al-Nukhba for Public Relations and Advertising, Ahmad Mohamed Al-Khawi, Chairman of Yemeni Banks Society, stated that the Yemeni banks have to reconsider the processes of integration and capital raising to create banking units capable of funding public and private sectors' projects. According to him, the Yemeni government encouraged four national banks last year to join the process of integration, which is a successful step for qualifying other banks for the international competition.

These processes, he confirmed, will help attract the Yemeni capitals invested abroad, particularly as Yemen possesses numerous investment opportunities. He emphasized that banks should take into account the reasons that ensure their survival and ability to compete in the local and international banking markets. Al-Khawi said the process of integration will help make available big financial institutions to diversify its services and reach them to the simple customers.
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