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The ongoing economic conflict in Yemen escalated to include a fierce struggle between its bifurcated central bank for control over the nation's fractured monetary system and financial institutions. On June 26, the Central Bank of Yemen in Aden (CBY-Aden) issued a new directive, effectively banning banks and exchange outlets from working with … Read more

Yemen's microfinance sector is undergoing a radical transformation. Despite initial success in empowering small businesses, the ongoing conflict has exposed deep vulnerabilities. Competition between the fractured central banks has driven a surge in microfinance bank (MFB) licenses. While this promises to expand financial inclusion, it raises … Read more

Threatened with new attacks, Saudi Arabia has forced the Yemeni government to abandon efforts to cut off the Houthi group () from the international banking system. Financial sanctions enacted by the government-aligned Central Bank of Yemen in Aden (CBY-Aden) were perhaps the government’s last card in its efforts to negotiate economic relief or … Read more

Yemen's already fractured financial system faces a dangerous escalation as its rival central banks engage in a high-stakes power struggle, threatening a full-blown currency war. On March 31, the Houthi-controlled Central Bank in Sana'a (CBY-Sana'a) made a controversial decision to introduce a new coin to replace deteriorating 100 rial banknotes. … Read more

The re-designation of the Houthis as a Specially Designated Global Terrorist group (SDGT) by the Biden administration, which took effect on February 16, has sparked a complex debate. The move follows a series of Houthi missile attacks on commercial vessels in the Red Sea and Bab al-Mandab Strait. The designation allows the US Treasury to impose … Read more