"Regen Yemen" to release its new report on the Houthi's destruction of the banking sector

Regain Yemen (Initiative) is set to release its new report in the coming days on the Houthi destruction of the banking sector titled "Money Laundering and Plundering.

The report, which has already released its first part focusing on banks, highlights the serious violations committed by the Iran-backed Houthis , against banks in the capital Sana'a and several provinces.

These violations ranged from imposing restrictions and arbitrary measures to invasions and the use of illegal means to obtain confidential banking data and seize or freeze the bank accounts of many political, social, institutional, public, and private figures.

The report addresses the risks of Houthi actions on the banking sector, the Yemeni economy, and the proliferation of money laundering, terrorism financing, and other suspicious financial transactions.

The United Nations experts on Yemen (the Sanctions Committee) confirm that the Houthis have adopted a strategic plan to target the economic resources of the recognized Yemeni government, resulting in economic instability in the areas controlled by the government in Yemen. Among the measures taken by the Houthis in this regard is the ban on banknotes printed by the Central Bank in Aden and the adoption of policies to divide the banking and economic sectors.

"Regain Yemen" is a voluntary initiative to monitor and document Houthi crimes of looting and plundering public and private property and to support and assist the affected individuals in reclaiming their rights.

The initiative was established due to the oppression and injustice carried out by the Houthi terrorist militia in confiscating private property and rights, invading and looting homes, and then detonating them. Last year, "Regain Yemen" released its fifth report on Houthi control over the telecommunications sector in Yemen titled "Telecommunications: a Weapon of War, Not a Service."