Yemen Bank's Statement Sparks Outrage, Boycott Calls
A recent statement by Al-Karimi Islamic Microfinance Bank has ignited widespread anger and controversy on social media platforms in Yemen, with accusations of the bank colluding with Houthi militias and imposing economic restrictions on tribal gatherings in Al Jawf Governorate.
The bank's unexpected announcement followed Sheikh Hamad bin Rashid bin Fadgham Al-Hazmi's declaration of opening bank accounts with Al-Karimi to receive financial support and donations for "tribal obligations." These funds were intended for the "Al-Karama gatherings" in Al Jawf Governorate, coinciding with preparations for upcoming battles against the Houthi expansion.
The contentious bank statement issued a stern warning to its clients, emphasizing the need to adhere to the terms and conditions of account opening. It asserted that using accounts for purposes other than their intended use constitutes a violation of regulations and could lead to immediate closure under compliance procedures. Activists and citizens interpreted this as a direct and explicit targeting of accounts supporting Yemeni tribes and the Al Jawf gatherings.
Consequently, widespread calls emerged on social media for a boycott of Al-Karimi Bank and the withdrawal of deposits. Activists and tribal leaders urged the internationally recognized legitimate government and the Central Bank in the interim capital, Aden, to intervene urgently and close the bank's branches in all liberated areas.
Some tribal members have threatened escalating actions against the bank's branches, deeming them as serving the "militias' agenda," should official bodies fail to take decisive steps. Citizens have expressed dismay at the bank's perceived double standards, accusing Al-Karimi's management of facilitating and opening accounts to support the Houthi militia's so-called "war effort" for the past 12 years in areas under their control, without the bank invoking compliance regulations as it did promptly against the Yemeni tribal initiatives.