MALAYSIAN BANKS PLAN TO OPEN BRANCHES IN YEMEN

MALAYSIA, April 23 (Saba)- Four Malaysian Islamic banks is planning to open branches in Yemen due to the growth of the banking sector in the country, the Malaysian National Chamber of Commerce and Industry (MNCCI) has said.

In his meeting with Yemeni ambassador to Malaysia Abdullah al-Muntaser, deputy chairman of the MNCCI Mr. Hajji Ben Hassan reviewed the legal procedures for opening the branches of four Malaysian Islamic banks in Yemen to finance industrial and housing projects in Arab country.

Speaking to state-run almotamar.net, the Yemeni ambassador unveiled the determination of the two private sectors in both countries to establish a regional marketing center in Yemen for Malaysia's products.

The ambassador also said that there are plans to set up maritime projects in Yemen in partnership with the private sector of Malaysia.

YA