Aden Bank for Microfinance Is to Launch Its Operations and Contribute to Achieving Financial Inclusion
The bank will work in partnership with local banks and financial institutions using best practices in microfinance for provision of Islamic banking services, and will apply an integrated system of financial and non-financial services to support value and supply chains for MSMEs.
The initiative aims to help clients and communities by providing blended financial and non-financial digital services including advisory services, training and more to assure ease of access to e-money and transfers for its customers.
YCASH Enrolls in New Partnerships with Humanitarian Agencies and Deploys Humanitarian Transfers Platform and a National Digital Wallet
The Humanitarian Transfers Platform enables humanitarian agencies to execute transfers directly to their interventions beneficiaries without a third party.
The National Cash Transfer Company piloted the Door to Door Payment method as a response to the new challenging context and a preventive measure for coronavirus-related risks.
The World Bank estimates that one in ten people in Yemen wholly rely on money transfers to meet their basic needs. Remittances to Yemen in 2019 totaled $3.8 billion - 13% of GDP.