Business

Islamic Banks Invest YR 1296.9 Billion in Yemen

National Yemen

Yemen Central Bank

Islamic bank investments in Yemen have risen during the first quarter of 2012 to around YR 1296.9 billion, this compared to around 121.6 billion YR  during the same period last year. The Yemeni Central Bank stated that these investments were largely concentrated in economic and production sectors.

According to the Central Bank, investments by Islamic banks in the construction sector amounted to YR 13.7 billion, and YR 4.2 billion in the agricultural and fishery sectors. In a press release issued by the bank, money paid by the Islamic banks to sponsor the sales of trade and goods amounted to YR 46.9 billion.

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