The National Bank of Yemen is fully state-owned under the supervision of the Minister of Finance. Its head office is in Crater, Aden, Republic of Yemen. It was established in 1969 and now has 27 branches in 11 major cities in Yemen, and a branch on the Isle of Socotra.
In 1969, the People's Democratic Republic of Yemen nationalised all the branches of foreign banks in Aden, including the branches belonging to Arab Bank, Bank of India, British Bank of the Middle East (BBME), Chartered Bank, Habib Bank, National and Grindlays Bank. The next year, National Bank of Southern Yemen incorporated all the banks in the country; this is now National Bank of Yemen.
The Politics of Yemen are in an uncertain state due to the Houthi takeover in Yemen. An armed group known as the Houthis or Ansar Allah seized control of the Northern Yemeni government and announced it would dissolve parliament, as well as install a "presidential council", "transitional national council", and "supreme revolutionary council" to govern the country for an interim period. However, the deposed president, Abdrabbuh Mansur Hadi, has declared he is still in office and is working to establish a rival government in Aden.
The economy of Yemen has significantly weakened since the breakout of the Yemeni Civil War and the humanitarian crisis, which has caused instability, escalating hostilities, and flooding in the region. At the time of unification, South Yemen and North Yemen had vastly different but equally struggling underdeveloped economic systems. Since unification, the economy has been forced to sustain the consequences of Yemen's support for Iraq during the 1990–91 Persian Gulf War: Saudi Arabia expelled almost 1 million Yemeni workers, and both Saudi Arabia and Kuwait significantly reduced economic aid to Yemen. The 1994 civil war further drained Yemen's economy. As a consequence, Yemen has relied heavily on aid from multilateral agencies to sustain its economy for the past 24 years. In return, it has pledged to implement significant economic reforms. In 1997 the International Monetary Fund (IMF) approved two programs to increase Yemen's credit significantly: the enhanced structural adjustment facility and the extended funding facility (EFF). In the ensuing years, Yemen's government attempted to implement recommended reforms: reducing the civil service payroll, eliminating diesel and other subsidies, lowering defense spending, introducing a general sales tax, and privatizing state-run industries. However, limited progress led the IMF to suspend funding between 1999 and 2001.
Aden is a port city located in the southern part of the Arabian peninsula, positioned near the eastern approach to the Red Sea. It is situated approximately 170 km east of the Bab-el-Mandeb strait and north of the Gulf of Aden. With its strategic location on the coastline, Aden serves as a gateway between the Red Sea and the Arabian Sea, making it a crucial maritime hub connecting Africa, Asia, and the Middle East. As of 2023, Aden City has a population of approximately 1,080,000 residents, making it one of the largest cities in Yemen.
The State flag of Yemen was adopted on May 22, 1990, the day that North Yemen and South Yemen were unified. The flag is basically the Arab Liberation Flag of 1952, introduced after the Egyptian Revolution of 1952 in which Arab nationalism was a dominant theme. The Arab Liberation Flag of 1952 served as the inspiration for the flags of both North and South Yemen prior to unification, as well as for the current flags of Egypt, Iraq, Sudan, Palestine and Syria.
The president of the Republic of Yemen is the head of state of Yemen. Under the Constitution of Yemen, the president is also the Supreme Commander of the Armed Forces and head of the executive branch of the Yemeni government.
Bank of India (BOI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founder member of SWIFT, which facilitates provision of cost-effective financial processing and communication services.
South Yemen, formally the People's Democratic Republic of Yemen, was a state that existed from 1967 to 1990 as the only communist state in the Middle East and the Arab world. It was made up of the southern and eastern Governorates of the present-day Republic of Yemen, including the island of Socotra.
The rial is the official currency of the Republic of Yemen. It is technically divided into 100 fils, although coins denominated in fils have not been issued since Yemeni unification. Due to the ongoing political instability, the value of the Yemeni rial has fallen significantly.
Lahij or Lahej, also called Al-Hawtah, is a city and an area located between Ta'izz and Aden in Yemen. From the 18th to the 20th century, its rulers were of the Abdali branch of the Al-Sallami tribe who trace their lineage to one of the 10 tribes of Yaffa called Kalad. Lahij was the capital city of Sultanate of Lahej, a protectorate of the British Empire until 1967, when the sultan was expelled and the city became a part of People's Republic of South Yemen. Now it is part of the Republic of Yemen.
The Aden Protectorate was a British protectorate in South Arabia which evolved in the hinterland of the port of Aden and in the Hadhramaut following the conquest of Aden by the Bombay Presidency of British India in 1839, and which continued until the 1960s. In 1940, it was divided for administrative purposes into the Western Protectorate and the Eastern Protectorate. Today, the territory forms part of the Republic of Yemen.
Beihan or Bayhan, officially the Emirate of Beihan, was a state in the British Aden Protectorate and the Federation of South Arabia. Its capital was Suq Abdulla, now called Beihan. The Emirate was abolished in 1967 upon the founding of the People's Republic of South Yemen and is now part of the Republic of Yemen.
Aden is a governorate of Yemen, including the city of Aden. At the 2004 census, it had a population of 589,419. The ancient capital, the port city of Crater, was located here.
The Yemen Scouts and Guides Association is the national Scouting and Guiding organization of Yemen. Scouting in Yemen started in 1927. The Yemen Scouts and Guides Associations was established in 1987.
The modern history of Yemen began with the withdrawal of the Ottoman Empire. In 1839 the British set up a protective area around the southern port of Aden and in 1918 the northern Kingdom of Yemen gained independence from the Ottoman Empire. North Yemen became a republic in 1962, but it was not until 1967 that the British Empire withdrew from what became South Yemen. In 1970, the southern government adopted a communist governmental system. The two countries were formally united as the Republic of Yemen on May 22, 1990.
Water supply and sanitation in Yemen is characterized by many challenges as well as some achievements. A key challenge is severe water scarcity, especially in the Highlands, prompting The Times of London to write "Yemen could become the first nation to run out of water". A second key challenge is a high level of poverty, making it very difficult to recover the costs of service provision. Access to water supply sanitation in Yemen is as low or even lower than that in many sub-Saharan African countries. Yemen is both the poorest country and the most water-scarce country in the Arab world. Third, the capacity of sector institutions to plan, build, operate and maintain infrastructure remains limited. Last but not least the security situation makes it even more difficult to improve or even maintain existing levels of service.
An annular solar eclipse occurred on February 24, 1933. A solar eclipse occurs when the Moon passes between Earth and the Sun, thereby totally or partly obscuring the image of the Sun for a viewer on Earth. An annular solar eclipse occurs when the Moon's apparent diameter is smaller than the Sun's, blocking most of the Sun's light and causing the Sun to look like an annulus (ring). An annular eclipse appears as a partial eclipse over a region of the Earth thousands of kilometres wide. Annularity was visible from Chile, Argentina, Portuguese Angola, French Equatorial Africa, Belgian Congo, Anglo-Egyptian Sudan, Ethiopia, French Somaliland, southeastern Italian Eritrea, and Mutawakkilite Kingdom of Yemen, Aden Protectorate and Aden Province in British Raj.
The National Liberation Front was a Marxist paramilitary organization and a political party operating in the Federation of South Arabia, during the Aden Emergency. During the North Yemen Civil War, fighting spilled over into South Yemen as the British attempted to establish an autonomous colony known as the Federation of South Arabia. Following the exit of the British armed forces, the NLF seized power from its rival, the Arab nationalist Front for the Liberation of Occupied South Yemen (FLOSY). In the aftermath of the Emergency, the NLF renamed itself the National Front and eventually became the main force behind the creation of the Yemeni Socialist Party which subsequently governed the country as a single-party Marxist-Leninist state.
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The Eastern Bank Limited, was a British bank founded in 1909 in London, to help finance trade with the Far East. In 1957 Chartered Bank, acquired Eastern, and eventually absorbed it into Standard Chartered in 1971.
