Central Bank of Yemen Issues Urgent Warning Against Houthi-Backed Illegal Auctions
- The Central Bank of Yemen warns against illegal transactions involving bank-owned assets.
- Unauthorized auctions for land owned by the International Islamic Solidarity Bank announced in Sana'a.
- Transactions involving designated terrorist groups are deemed legally void by the Central Bank.
- Participation in illegal auctions may result in legal accountability and financial losses.
Central Bank of Yemen Issues Strong Warning
The Central Bank of Yemen has issued a stern warning to citizens, businesses, and legal entities against engaging in any transactions involving properties or assets owned by banks and financial institutions. This advisory specifically targets activities promoted by unauthorized entities operating in areas controlled by the Houthi militia.
Illegal Auctions Announced by Unauthorized Entities
In a statement received by the Yemeni News Agency (Saba), the Central Bank highlighted that a self-styled “Specialized Primary Criminal Court” in Sana’a, which lacks legal authority, has announced auctions for substantial tracts of land owned by the International Islamic Solidarity Bank. These auctions are scheduled to take place in the Hizez and Al-Sawad regions of Sana’a Governorate.
Legal Implications and Risks of Participation
The Central Bank emphasized that any actions targeting the assets and properties of banks—including sales, seizures, confiscations, or transfers of ownership—through entities affiliated with designated terrorist groups are legally void. Such actions hold no validity before official and judicial authorities, both within Yemen and internationally, as they originate from entities lacking legal jurisdiction and authority.
Furthermore, the Central Bank warned that participating, mediating, or facilitating these auctions, whether directly or indirectly, exposes individuals to significant risks, including:
- Full legal accountability
- Potential inclusion on local and international sanctions lists
- Responsibility for any financial losses or rights forfeited due to dealings with unauthorized entities
The Central Bank reaffirmed its commitment, along with that of banks and financial institutions, to pursue all legal avenues against anyone implicated in actions that jeopardize banking sector assets. The bank will take necessary measures both locally and internationally to safeguard the rights of depositors and shareholders, as well as to protect private property.
Call for Vigilance
In conclusion, the Central Bank urged all individuals to exercise extreme caution. Citizens should remain vigilant and avoid falling victim to misleading and illegal advertisements aimed at plundering banking assets and undermining financial and economic stability.
For more information, visit the Yemen TV Channel.
