Yemeni banks’ foreign assets rise [Archives:2005/803/Business & Economy]

Mahyoub Al-Kamaly
The Yemeni banking apparatus' foreign assets has risen to one over trillion and 90 billion riyals, compared to over one trillion and 60 billion riyals at the end of last September. According to an official report published in al-Thawra newspaper economic supplement, the increase has totaled YR 29.2 billion.

The report says that the foreign assets of the Central Bank, during the same period, had rose to around trillion 23 billion riyals covering more than 16 months of imports, compared to nearly one trillion and two billion at the end of last September.

The report has also mentioned that the total amount of the unified budget of the commercial and Islamic banks has, at the end of October, reached 665 billion riyals with an increase of two per cent compared to September.

Foreign assets of those banks reached 909.2 million riyals whereas in September they amounted to more than 161 billion.

The report has also states that the total amount of monetary reserves has dropped by YR 1.8 billion at the end of last October to reach 99 billion riyals against 100.8 billion at the end of September.

A report issued by the Central Bank mentioned that at the end of October, the total credit presented by private sector banks amounted to more than 178 billion riyals against 167 billion at the end of September.

As for treasury bonds and banking dealings operations with commercial banks, they have amounted to 149.9 billion riyals at the end of October, in comparison with 149.1 billion at the end of September. While on the other hand, the total amount of deposits at banks rose to 555.2 billion riyals against 542.8 billions during the same period.

The report also added that the monetary supply had risen from 872.4 billion riyals at the end of September to 879.5 billions at the end of October. The report has also indicated that until the end of October 2004, the net of government debts registered a permanent asset of an amount of 42.4 billion riyals. Against that the debts of the private sector had risen to YR 179.7 billion.
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