After stealing the employees, Al-Kuraimi fails to convince the banks to establish a code of honor
English - Wednesday 07 June 2023 الساعة 05:17 pm
Aden, NewsYemen, exclusive:
A banking source in the capital, Aden, revealed that Al-Kuraimi Islamic Bank failed to convince the Central Bank of Yemen, Aden, and bank managers in areas under the legitimate government to establish and declare a code of honor for Yemeni banks.
The source told "Newsyemen" that the leadership of Al-Kuraimi Islamic Bank and Microfinance called the Central Bank of Yemen and bank managers to a meeting, which was held last week under the chairmanship of the Undersecretary of the Central Bank of Yemen for the banking supervision sector, Mansour Rajeh, and demanded the establishment of a charter of honor for Yemeni banks.
The source added that Al-Kuraimi Bank complained about some banks attracting its employees and seducing them with large salaries and privileges, which caused the leakage of a number of the bank's cadres to other banks, which prompted it to demand the Central Bank and banks to establish a code of honor.
He explained that the banks rejected the initiative of Al-Kuraimi Bank, and the response of the agent of the Central Bank of Yemen for the banking supervision sector was that if the employee obtained a release from his previous job, he has the right to work in any other place.
According to the source, the central bank agent advised the banks to increase the salaries of their employees and improve their conditions, and they will not give up their jobs and move to other banks.
Since 2020, 11 new banks have been launched in areas under the jurisdiction of the legitimate government, which has raised the pace of competition between banks to attract customers and raise the efficiency of their staff
The Yemeni banking sector - commercial and Islamic banks - witnessed an increase in the number of banks by 60 percent, with the entry of 11 new banks into the banking market - 8 of which are active in Islamic finance, bringing the number of Yemeni banks to 28, from 17 in 2020.
The capital, Aden, acquired 5 banks out of the total number of new banks, followed by Hadramout governorate with 3 banks, and the others were distributed; Two banks in Marib governorate, and a bank in Taiz governorate.
In March 2022, the Aden-based Central Bank of Yemen announced new regulations, increasing capital requirements for commercial and Islamic banks to 45 billion riyals, and microfinance banks to 5 billion riyals, within the next five years.
