The Central Bank of Yemen, located in the temporary capital of Aden, has announced an auction to sell $50 million on the upcoming Monday. This initiative aims to enhance liquidity in the market and support the economy.
Auction Participation Guidelines
The bank invites interested parties to submit their bids through the electronic platform Refinitiv. For banks lacking access to this platform, the Central Bank will submit bids on their behalf. However, this requires a formal request sent via the designated email address during the auction period.
Bid Submission Details
According to the announcement, bids must be in increments of $1,000. Each participant may submit bids totaling no more than 30% of the auction’s total value. Importantly, once submitted, participants cannot modify or cancel their bids.
Auction Timing
The auction will commence at 10:00 AM and conclude at 12:00 PM on the same day. Participants are encouraged to prepare their bids accordingly to ensure timely submission.
This auction represents a significant opportunity for financial institutions to engage with the Central Bank and contribute to the stabilization of the Yemeni economy. For more updates, stay tuned to Yemen TV.
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