Clash between Yemen’s central banks escalates

Rival central banks issue retaliatory bans on transacting with financial institutions

weaponisation of money

The economic war between Yemen’s rival central banks has intensified, putting further pressure on the banking sector.

The central bank in Sanaa controlled by the Houthi rebel faction banned transactions with 13 local and international banks and entities on May 31. This was in response to the government-controlled central bank in Aden suspending business with six banks the day before.

The Sanaa central bank said the banks and entities have been sharing data with hostile states and violating anti

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