Hafedh F. Mayad Chairman of CAC

Foreign and local investors have demonstrated their confidence in one Yemeni bank by dramatically increasing deposits.

“Last year, bank assets increased by 125% and we received more than 25% of the new money coming to the banking industry,” said Hafedh F. Mayad, Chairman of Cooperative and Agricultural Credit Bank (CAC).

Confidence and growth in CAC can be attributed to a modernized range of services and infrastructure. Future plans will only increase their growing popularity. A partnership with the Doha Bank of Qatar will offer an Islamic bank towards the end of this year.

The funding and services provided by CAC will prove crucial for investors seeking to exploit relatively untapped Yemeni markets.