About Us
Unified Network for Money (UNMoney) is a closed Yemeni shareholder, a company specializing in the provision of financial transfer and digital payments services. The idea of its establishment began at the end of 2020 and was developed through the adoption by the Central Bank of Yemen of Resolution No. 18 of 2020 concerning the suspension of existing remittance networks and the establishment of a unified financial transfer network, in the context of the efforts of the Central Bank of Yemen to reduce the disruption of the banking system in Yemen by consolidating the activities of multiple remittance networks into a single channel operating under its direct supervision and contributing to the reduction of illicit financial transfers (financing of terrorism and money-laundering operations).
The company's role is to serve as a means of strengthening the CBY's supervisory role over the banking system and remittance activity, which is one of the most prominent channels that are exploited in terrorist financing and money laundering operations. By providing a comprehensive electronic database on remittance transactions. This ensures disclosure of remittance activity, sources of funds, and beneficiaries. Which was previously done manually, allowing for manipulation and providing inaccurate data about them. This allows the Central Bank to apply the necessary laws and procedures in this regard. The company's presence will also enhance the Central Bank's ability to implement a monetary policy that can stabilize the value of the local currency against foreign currencies. As part of the company's strategic vision, the company aspires to provide digital payments services as a second phase, which contributes to reducing the need for cash liquidity and achieving financial inclusion.
Vission
Be the leading national pillar in the field of remittances and digital payments.
Mission
Create and develop an integrated and resilient infrastructure for remittances and digital payments that offers services at a high level of trust and security, achieving interoperability and accessibility.
H.E. Mr. Ahmed bin Ahmed Ghalib Al-Muabqi
Governor of the Central Bank of Yemen
" Thanks to the cooperation and integration between the Central Bank of Yemen and the exchange sector, we rely on UNMoney a lot. By improving the work of the banking sector and achieving the highest degree of discipline, security and compliance in its operations and transactions, the UNMoney uses the finest systems and applies the highest standards of compliance and is managed according to the latest methods, we look forward to expanding the UNMoney and extending the services of banks to achieve financial inclusion and integrated efforts to provide better services to the public and a more comprehensive service for financial and banking institutions, thanks to all efforts that resulted in this important achievement at this exceptional time."
Sheikh. Abdullah Mohammed Al-Bussiri
Chairman of Board of Directors
" UNMoney came as a result of the integration of the efforts of the Central Bank and the Yemeni banking sector, to contribute to rebalancing, integration and organization through a unified remittance network for financial services, in order to correct the imbalances resulting from random actions resulting from the circumstances and variables, and to restore confidence to the Yemeni banking sector at the local and international levels. "
Mr. Mansour Abdulkarim Rajeh
Deputy of Banking Supervision Sector
" The Unified Money Company enjoys great support from the Central Bank and we count on it a lot in correcting some of the imbalances in the exchange sector as a result of the multiplicity of remittance networks that appeared in recent years and the use of some networks to harm the Yemeni economy. The level of commitment that we plan to work on the company will enhance the company's position locally and abroad, and after issuing the initial license, we hope that its activities will expand to include banks and turn into a financial services company that provides services other than remittances, including electronic cash and settlement of retail payments between banks and financial institutions. "