The Extraordinary General Assembly of Unified Network for Money Company (Yemeni Closed Joint Stock Company) held its meeting today, Monday, in Aden, in the presence of H.E. Ahmed Ahme Ghaleb Al-Maabqi, Governor of the Central Bank of Yemen; Mansour Abdulkarim Rajeh, Undersecretary for the Banking Supervision Sector; Rashid Hazeb, Undersecretary of the Ministry of Industry and Trade; as well as members of the Board of Directors and shareholders.

The Governor of the Central Bank opened the General Assembly meeting and delivered a speech in which he emphasized that UNMoney represents a key pillar in developing the national payments ecosystem, promoting financial inclusion, and supporting digital transformation.

He noted that the company’s new phase, following the completion of its restructuring, the increase of its capital, and the accession of banks operating in the Republic of Yemen as shareholders, marks a strategic step toward modernizing the financial sector. He added that this development reflects the effective partnership between the Central Bank and the banking sector in building a national institution capable of providing modern and secure payment services in accordance with best practices.

For his part, Chairman of the Board Sheikh Abdullah Mohammed Awad Al-Basiri welcomed the attendees and expressed his appreciation for the participation of senior officials from the Central Bank, the Ministry of Industry and Trade, and the shareholders. He affirmed that the resolutions adopted by the General Assembly represent a pivotal milestone in the company’s journey toward strengthening its partnership with the banking sector and consolidating its role in supporting the national payments infrastructure.

The Extraordinary General Assembly discussed the items on its agenda and approved the completion of procedures for increasing the company’s capital. It also approved the final amendments to the Articles of Association in line with the new capital structure and the governance, compliance, and regulatory requirements issued by the Central Bank of Yemen.

The General Assembly also elected a new Board of Directors in accordance with the amended Articles of Association and the requirements of the Central Bank of Yemen. The new Board includes representatives of shareholder banks, representatives of the exchange sector, and two independent members, ensuring balanced representation of all shareholder groups and supporting the company’s new phase of growth and business development.

At the conclusion of the meeting, the General Assembly affirmed that the resolutions adopted mark the beginning of a new strategic phase in the company’s journey, strengthening its integration with the banking sector and reinforcing its position as one of the most important components of Yemen’s national payments infrastructure.

The resolutions are expected to contribute to the development of digital financial services, promote financial inclusion, enhance the efficiency of the financial and banking sector, and support financial stability and economic development in the Republic of Yemen.