Yemen Banks Get Boost with Compliance Training Initiative

The Yemen Institute of Banking Studies (YIBS) has launched a major initiative aimed at improving the technical and professional competence of bank employees across the country.

Background

Established in 1978, YIBS is a joint venture between the Central Bank of Yemen and banks operating in the country. Its main objective is to enhance the capacity of banking professionals by spreading theoretical and applied banking culture and sciences, ultimately leading to the development of banking services in Yemen.

Governance Structure

The Institute’s Board of Directors is headed by the Governor of the Central Bank of Yemen, with representatives from local commercial banks, foreign and specialized banks, Islamic banks, Sana’a University, and the Ministry of Education also serving on the board.

Compliance Training Initiative

YIBS has been instrumental in promoting compliance training for banks in Yemen, a move expected to improve the overall banking sector in the country. With this initiative, bank employees will be equipped with the necessary skills and knowledge to provide better services to customers.

Benefits of Compliance Training

• Improved technical and professional competence of bank employees
• Enhanced customer services
• Increased efficiency and productivity
• Better risk management practices
• Compliance with international banking standards

History

The establishment of YIBS was made possible by Law No. (27) of 1978, which was circulated by a presidential decree. Since then, the Institute has become a key player in the Yemeni banking sector, working tirelessly to improve the technical and professional competence of bank employees.

Achievements

• Promoted compliance training for banks in Yemen
• Improved the overall banking sector in the country
• Enhanced the capacity of banking professionals
• Developed banking services in Yemen