A senior Yemeni official stated that the government has begun preparing a new law against money-laundering activities in the country. The cabinet is expected to make a decision on the proposal in the near future.
Governor of the Central Bank, Ahmed Samawy, said that the bank prepared a primary draft, which was presented to the bank’s association and other related parties for additional recommendations.
The new law places money-laundering activities on the list of illegal actions, along with embezzlement, theft and kidnapping, Al-Hayat. The new law forbids commercial banks in Yemen to open accounts under fictitious names. — (menareport.com)
© 2001 Mena Report (www.menareport.com )