On Wednesday, Ahmed Ghaleb, the Governor of the Central Bank of Yemen, officially launched the National Default Registry System in the temporary capital, Aden. This digital platform aims to facilitate the exchange of data regarding defaulting clients among banks. The initiative seeks to reduce credit risks, protect depositors’ funds, and enhance the stability of the banking system.
Governor Ghaleb emphasized that the launch of this system marks a significant step in developing the country’s credit information infrastructure. He noted that it will improve the efficiency of the banking sector and bolster public confidence in the financial system. This initiative aligns with modern banking practices and serves the national economy effectively.
The Governor clarified that the introduction of this system goes beyond merely implementing new technology. It represents a crucial institutional advancement in the credit information framework. The system will strengthen regulatory oversight and improve risk management, leading to better credit decision-making within banks and financial institutions.
Ghaleb explained that the Central Bank has designed the system to serve as a unified national platform for collecting, managing, and exchanging credit default data among banks. The platform will operate under strict guidelines to ensure data accuracy and confidentiality. This integration will enable banks to assess risks more effectively and make higher-quality credit decisions.
The launch event included the presence of Mansour Rajeh, the Deputy Governor for Banking Supervision, along with representatives from commercial and Islamic banks operating in the country. Their participation underscores the collaborative effort to enhance the banking sector’s integrity and performance.
For more information, visit the original article on Yemen TV.
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