King Salman’s order on Wednesday that $2 billion be deposited in Yemen’s central bank has been widely welcomed.
The Saudi King issued a directive on Wednesday to transfer $2 billion to Yemen’s central bank to "alleviate the suffering" of the Yemeni people. The amount is also believed to boost the economic and financial situation of the country and improve the exchange rate of its currency.
“Saving the rial means saving Yemenis from inevitable hunger,” Yemeni Prime Minister Ahmed Bin Daghr said.
Secretary General of the Organization of Islamic Cooperation (OIC) Dr. Yousef Al-Othaimeen hailed the directive of King Salman to support the Yemeni people and strengthen their economy with the $2 billion cash deposit.
The OIC chief emphasized that this initiative would help alleviate the suffering of the Yemeni people and "support the legitimate government in the country".
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The price of the Yemeni currency rial jumped about 15 percent against the US dollar on Wednesday after the announcement by Saudi Arabia.
Monasser Al-Quaiti, governor of the Yemeni central bank, said the bank will move towards strengthening the commercial banks to manage their domestic and foreign banking operations from their headquarters in Aden, in addition to regulate and control the foreign exchange market.
Editor's note: The article has been adapted from its original source.
