The Central Bank of Yemen signs a memorandum of understanding with the United Nations Development Programme.

Central Bank of Yemen Signs MoU with UNDP to Boost Financial Technology

ADEN, Yemen – On Thursday, Ahmed Ghaleb, the Governor of the Central Bank of Yemen, signed a memorandum of understanding (MoU) with the United Nations Development Programme (UNDP) in the temporary capital, Aden. This agreement aims to enhance collaboration in financial technology and digital innovation.

Establishment of a FinTech Lab

The MoU outlines plans to establish a FinTech Lab at the Central Bank’s headquarters in Aden. This lab will serve as a specialized platform for developing and testing innovative financial solutions and technologies. By creating this facility, the Central Bank seeks to leverage rapid advancements in financial technology.

Expanding Financial Inclusion

This initiative aligns with the Central Bank’s ongoing efforts to expand financial inclusion across Yemen. The goal is to provide secure and accessible digital financial services to all segments of society. By embracing these technological advancements, the Central Bank aims to ensure that financial services reach those who need them most.

Strategic Alignment with Global Trends

The agreement reflects the Central Bank’s strategy to keep pace with global technological developments. It also aims to mobilize the necessary technical and financial support to build the capacities of national staff. Furthermore, the MoU will help develop regulatory frameworks that contribute to the stability and growth of the banking sector and the national economy.

Acknowledgment of UNDP’s Role

Governor Ghaleb praised the UNDP for its role in supporting the Central Bank’s efforts to enhance financial infrastructure and promote financial inclusion. He highlighted the constructive partnership and collaboration between the two entities, which will be crucial for the success of this initiative.

Key Attendees

The signing ceremony included key figures such as Mansour Rajeh, the Deputy Governor for Banking Supervision, and Dr. Kamal Abdul Raqeeb, the Director General of Payment Systems.

For more details, visit the original article on Yemen TV.

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