Number of Savings Accounts Increase in Yemen
SANA’A, 12 March — The percentage of profits of depositors in the Postal Saving Fund rose to YR 800 millions during 2006 against YR 600 millions recorded in 2005. These profits are considered the highest on record so far if compared with commercial banks which deal in saving accounts, according to Mohammed Murghem, the general manger of the General Authority of Post and Postal Savings.
In the meantime, the total investments amounted to YR 8 billions during 2006 with total interest reaching YR 1.2 billion against YR 6 billions and YR 870 millions respectively in 2005.
Murghem added the number of accounts opened during 2006 reached 266,657, with an increase of 50,271 accounts, an increase of 23 percent. Further, the balances of depositors rose from YR 7.8 billions in 2005 to YR 9.8 billions in 2006.
He concluded the number of post offices, providing postal saving services, increased to 169 offices covering the whole republic during 2006 instead of 129 in 2005.
More bank related:
- Tadhamon Bank expands into Syria
The Syrian Central Bank has issued a permit to Yemen’s Tadhamon International Bank to establish a branch in Syria for investment purposes. Tadhamon Bank is Yemen’s largest Islamic bank, with investment activities in several countries, where 60 percent of the bank’s profits originate.
