Alinma Bank for Islamic Microfinance
in Yemen 🇾🇪
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About Alinma Bank for Islamic Microfinance in Yemen
Alinma Bank for Islamic Microfinance is a microfinance institution that was established to operate in Yemen. The bank was designed to provide Shariah-compliant banking services and financing solutions to low-income families, small farmers, and micro-enterprises in accordance with Yemen's Microfinance Bank Law No. 15 of 2009.
However, in May 2024, the Central Bank of Yemen (headquartered in Sana'a) issued Resolution No. 4, which prohibited dealing with Alinma Bank for Microfinance and twelve other entities. The resolution cited violations of Yemeni banking laws, including conducting banking business without proper licensing from the Central Bank of Yemen in Sana'a.