13 Exchange Companies Closed in Marib as Central Bank Crackdown Continues

A joint committee from the Public Funds Prosecution and the Central Bank's Marib branch has shut down 13 exchange companies and facilities in the governorate. The closures, which took place on Tuesday, August 5, were carried out based on recent decisions by the Central Bank governor to revoke their licenses. The committee was led by Judge Ahmed Saleh Munif, the Public Funds Prosecution agent in Marib. Its members included Naji Al-Taffaf, head of the Criminal Pen at the Public Funds Prosecution, and Abdullah Abbas, representing the Central Bank's supervision department. According to the committee, the campaign was a direct result of orders from Central Bank Governor Ahmed Ghaleb. The closures followed field reports by the bank's supervision sector, which found the companies in clear violation of banking laws and regulations.

The committee emphasized that these closures are part of the Central Bank's broader effort to regulate the banking sector, curb illegal activities, and shut down unlicensed firms. The joint committee called on all financial institutions in Marib to comply with Central Bank instructions and legal regulations to avoid severe penalties, including potential license revocation and permanent closure.

The committee noted that the field campaign, which began on July 24, is ongoing and has now closed the following companies and facilities: * Rashad Buhair Exchange and Transfers * Dadiyah Online Exchange and Transfers * Sadiq Tanika Exchange and Transfers * Bin Awir Exchange and Transfers * Al-Arsh Express Exchange and Transfers * Bin Munif Exchange and Transfers * Al-Madain Exchange and Transfers * Al-Mujrabi Exchange and Transfers * Al-Mintab Exchange and Transfers * Saad Al-Yafaei Exchange and Transfers * Al-Maqbeli Exchange * Al-Mahdi Exchange and Transfers * Riyadh Al-Harwi Exchange and Transfers