International organization: Houthi militia has expanded smuggling and money laundering
English - Sunday 14 June 2020 الساعة 03:48 pm
Aden, Newsyemen:
The Capacity Assessment Organization (ACAPS) said that the Houthi militia expanded in black market activity and smuggled goods
and banknotes in Yemeni riyals.
Headquartered in Geneva, Switzerland, the organization added that the Houthi militia continues to implement and start introducing more prohibited economies and monetary and financial policies that seek to limit dealings with the Yemeni government, institutions and regulations and protect the economic interests of the Houthis.
It stated that one of these measures implemented by the Houthi militia is the continued ban on the circulation of newly printed banknotes in areas controlled, which were printed by the Yemeni government after September 2016 issued by the Central Bank of Yemen from its headquarters in Aden.
The Capacity Assessment Project organization - based on its reports from relief organizations and decision makers in the West - explained that Houthi militia measures have expanded financial flows related to money laundering and terrorist financing.
The organization - made up of a coalition of three of the world's leading civil society organizations (Save the Children, the Norwegian Refugee Council, and the Organization Against Hunger) with the goal of assessing humanitarian needs - noted that Houthi militia practices have raised costs and made future attempts to revitalize the formal finance sector hard.
