Banking Partnership between CAC bank and 7 Saudi Banks

10/3/2013 12:00:00 AM

A number of Saudi banks have agreed with one of the Yemeni Islamic governmental banks to increase cooperation, exchange expertise, train staff and hold training courses both within Yemen and Jeddah. In this regard, a Yemeni delegation from CAC Bank and the Yemeni Ministry of Planning held a meeting at the Islamic Development Bank in Jeddah on Sunday evening and consequently the Islamic Development Bank expressed its readiness to finance its projects in the Republic of Yemen through CAC Islamic Bank.

The meeting was started by a speech delivered by the Chairman of CAC bank expressing that CAC Bank was established in 1982 and introduced the banking and financial activities of CAC Bank to the attendants in which our services are offered through the 85 branches located in all governorates of the Republic of Yemen, noting that the bank covers 60% of the market movement of buying and selling foreign currencies. Mr. Monasser also expressed his happiness of this visit to the Islamic Development Bank and its funding for development projects in the Republic of Yemen as well as his great optimism in benefiting from the cumulative experience of the Islamic Development Bank.

Islamic Development Bank was represented by: Ahmed Mesbah Al-Sadiq - Operations Officer in Yemen, Al-Hadi Al-Nahawi - Islamic Financial Services Department, Monsef Al-Sudani - Capacity Development Department, Riyad Ragheb - Capacity Development Department, Ahmed Fadhlan Yahya - Consultancy Services Division, and Nazih Hisham Al-Nasser - Head of Consulting Services Division.