Yemen prepares to set up stock market

The governor of the Yemeni Central Bank, Ahmed Abdel Rahman Al Semway, confirmed that Yemen is preparing the necessary procedures to set up a stock market as part of the Yemeni economic reform program.

Al Semawy said that discussions are underway with Arab stock markets and the Arab Monetary Fund to assist Yemen in establishing the basis and rules of the Yemeni stock market. The Arab Monetary Fund promised the Yemeni officials to send a delegation to Yemen to provide assistance in this concern.

Al Semawy elaborated that the issue of treasury bonds which started in 1995 was the first step in establishing the stock market as it enabled Yemen to raise the money necessary to cover the budget deficit while keeping the inflation rate from increasing.