Yemen's Central Bank Warns Against Houthi-Auctioned Bank Assets

The Central Bank of Yemen, operating from its temporary capital in Aden, issued a stern warning on Saturday against citizens, companies, and legal entities participating in transactions involving assets of banks and financial institutions being auctioned by what it described as "illegitimate entities." The bank emphasized that any resulting legal actions would be considered null and void.

This advisory follows announcements from a body identified as the "Specialized Primary Criminal Court," under Houthi militia control in Sana'a, regarding public auctions for extensive land holdings belonging to the International Islamic Bank for Trade and Development in the Hizez and Al-Savad areas of Sana'a Governorate.

In a statement released from its main office in Aden, the Central Bank asserted that any measures targeting the assets of banks and financial institutions—including sales, seizures, confiscations, or ownership transfers—undertaken by entities controlled by a "designated terrorist militia" lack legal legitimacy and will not be recognized by official or judicial authorities within or outside Yemen.

The bank underscored that all contracts, sales agreements, mortgages, or ownership transfers stemming from these auctions are legally void. It further cautioned that participation in or facilitation of such auctions could expose involved parties to legal accountability and inclusion on local and international sanctions lists for supporting or collaborating with designated terrorist entities.

The statement continued, declaring that the Central Bank and the affected banks and financial institutions reserve all their legal rights to pursue any entities or individuals proven to be involved in the disposition of Yemeni banking sector assets. It indicated that legal actions, both domestic and international, would be pursued to protect the rights of depositors, shareholders, and private property.

The Central Bank of Yemen urged citizens and investors to exercise extreme caution and refrain from engaging with what it termed "misleading and illegal advertisements." The bank views these actions as an attempt to plunder the assets of the Yemeni banking sector, harm the interests of depositors, and undermine financial and economic stability.