Shamil Bank of Yemen and Bahrain

Short description: Islamic Bank

Shamil Bank of Yemen and BahrainIndustry| Finance

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Founded| 2002; 24 years ago (2002)
Headquarters| Sana'a, Yemen

Key people

| Ahmed abu baker Bazara, Chairman
Saeed Mohamed bazara, CEO
Products| Financial services
Investment banking
Website| www.sbyb.net

Shamil Bank of Yemen and Bahrain is an Islamic bank, established as a closed joint stock Yemeni company.

## History

The bank was granted a license to do business on February 17, 2002, by the Central Bank of Yemen.[1]

As an Islamic Bank, SBYB's services are Islamic Sharia compliant. It operates business through 16 branch and office networks which are spread over all the main cities in Yemen. The number of employees in the bank at the end of 2014 was 270.[citation needed]

In September 2018, a branch opened in Marib.[2] In January 2019, the deputy director of the bank was detained for several days by the Houthi forces.[3]

## References

1. ↑ Shamil Bank of Yemen and Bahrain, Unescwa.org
2. ↑ Mareb Deputy Governor launches Shamil Bank of Yemen and Bahrain's branch, Sabanew.net, 30 September 2018
3. ↑ Farea Al-Muslimi, Revitalizing Yemen’s Banking Sector: Necessary Steps for Restarting Formal Financial Cycles and Basic Economic Stabilization, Sanaacenter.org, 15 February 2019

## External links

* Official website

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