Saudi Arabia to deposit $2b in Yemen bank account

Cairo: Saudi Arabia signed an agreement in Riyadh to deposit $2 billion (Dh7.35 billion) in Central Bank of Yemen account, Saudi Press Agency said late on Thursday.

The agreement was signed between Saudi Finance Minister Mohammad Al Jadaan and Central Bank of Yemen governor Mohammad Mansour Zemam.

It aims to shore up the weak currency in a country divided by nearly three years of civil war between the internationally-recognised government, backed by Riyadh, based in the south, and the Iran-aligned Al Houthi movement which controls the north including the capital Sana’a.