Houthi corruption A leader suggests adding a zero to the coin

Leader Muhammad Ali al-Houthi, a member of the Houthi militia’s Politburo, told the government to change the value of coins. This caused a lot of anger among Yemenis on social media.

The head of the so-called Supreme Revolutionary Committee of the Central Bank of Militia told the governor of the Central Bank of Sana’a in a tweet to raise the value of all bills by adding a zero to them.

While experts saw this trend as a clear attempt to trick people out of their money by using fake money.

While the Houthi leader defended his orders by saying that he did not like how much cash was running out and how it was being used up, this was because the militiamen would not die to let new versions of the currency circulate.

Die Houthi militia began getting ready for the so-called “electronic riyal” a few days ago. This is the next step in their plan to attack and break up Yemen’s banks and money system.

Once the ports are shut, the governments of North Yemen linked up with those in the south that were controlled by the legitimate government and introduced a version of the currency that they would not let anyone else use. This currency started to circulate in the areas they controlled, and the militias started planning steps to separate the economies of the two areas.

Commercial banks had to cut off the link between their stores in Government areas and the central bank in Cut off Aden, which is why these militias were able to do what they did.

There is chaos on the stock markets

A bank source in the capital, Sanaa, claimed in March that militias under the real government’s control are to blame for the erratic currency market in Areas. These militias used their tools and state funds to speculate on currencies, which cost the government money.

That same source also said that there was no longer a market for buying and selling currencies in areas controlled by the Houthis. They also said that all banking operations, including exchange offices and banks that provide foreign currency for people who need to buy food and fuel, were still going on in Aden, Hadramout, Marib, and the other free cities.

To make things even more interesting, the United Nations’ Capacity Assessment Project Organization found that the Houthi militia’s actions have led to more money laundering and funding for terrorism. This information is based on cooperation between the UN and aid groups and Western decision-makers.

There are reports that die Militias use barter companies and real estate to hide money they get from drug trafficking, government funds, and secret Iranian financial help. The dollar’s value has dropped. More than 900 rials, and the riyal is worth about a fifth of what it was before the Houthi militia took over the government in late 2014.