Watani Bank

Watani Bank
for Trade & Investment

The Watani Bank has been established by highly experienced banks and economists who have a combined experience over 75 years in the filed of banking, finance and economic development.

As a team of professionals and with specialized skills in banking we set about to establish a unique banking institution with the main purpose of serving the Yemeni economy with the most modern banking techniques and practices.

The bank’s capital is yr. 1,000,000,000 (one billion Rials) divided into one million shares with paid-up capital.

Ministerial decree no.(49) was issued on 11/3/98 setting up the Watani Bank and the Central Bank of Yemen issued permit no.(5)

Shareholders:

The shareholders consist of Yemeni businessmen, social personalities and investors who believe that a properly set-up and organized bank run by professionals can play a positive role in the banking sector and in the development of the national economy, and a realization of a better standard of living for the Yemeni people at present and in the future.

Some of the main objectives:

  1. To receive deposits both in local Yemeni Rial and foreign currencies.
  2. To provide all banking services in accordance with the laws prevailing in the country.
  3. To contribute and participate in the economic development of the country in all spheres of economic activity based on sound and rational studies.
  4. To participate in the establishment of a stock exchange market in Yemen.
  5. To initiate funds designated for special projects and to manage funds on behalf of customers.

Corresponding Banks:

  1. American Express Bank (USA).
  2. Citibank (USA).
  3. Bank of New York (USA)
  4. Mitsubishi Bank (Tokyo)
  5. Commerzbank (Germany)
  6. Lloyds Bank (Britain).
  7. Mashreq Bank (Dubai).
  8. Saudi National Commercial Bank (Saudi Arabia)
  9. Berliner Bank (Germany)
  10. Saudi Hollandi Bank (Saudi Arabia).
  11. Arab Financial Services Company (Bahrain).
  12. Others

Projects and activities were executed by the bank since it established:

  1. Yemen National Company for Investment.
  2. Arab Insurance Company- sharing with Arab international insurance co.-Bahrain.
  3. American School in Sana’a- financed by the chairman of the bank board of directors, along with American investors.
  4. Yemen Center for Reconciliation and Arbitration.
  5. National Company for Hospitals and Medical Services.
  6. National Hospital for Open Heart Surgery.
  7. National Arab Contractors Company- Yemeni Investment (55%) and Arab Investment (45%) Othamn Ahmed Othamn, (Arab Contractors, Egypt).
  8. Kamaran Shipping Co. For Stevedoring and Leasing Vessels.

Further to the above activities, WB represents Arab Trade Finance Program and its sole focal point of the information network (Abu Dhabi, United Arab Emirates) and the Inter-Arab Investment Guarantee Corporation (Kuwait), the corporation provides insurance coverage for investments operating on commercial basic to both private and public sectors also we have a good relation with the Islamic Development Bank and Islamic Corporation for Insurance of Investment and Export Credit.

The bank has the willingness to take it’s place among the Yemeni bankers as a leader in trade & investment banks. The bank carried out it’s second strategic plan from the early 1999 to make place towards the locally, Arab and foreign investors to participate in a potential projects, hereunder we mention some of the available investment opportunities at the present time:

  1. Establishment of two housing complexes (Watani Land) in Sana’a and Aden.
  2. Establishing a different specialized hospitals in the main towns of the republic.
  3. Participate in establishment of cement factories.
  4. Establishment of inter-continental hotel.
  5. Central water sweetening projects (distillation).
  6. Fishing proliferate farms for export purpose.
  7. Establishment of parking city and recreational complex in Sana’a and Aden.
  8. Establishment of technical workshop for maintenance cars which is belonging to Arab insurance co.
  9. Financing the foreign trade transactions in the Islamic countries through the Islamic Bank for Development.
  10. Potato factory.
  11. Adoptive of privatization for some banks, insurance co., Pharmaceutical factory and tobacco & match factory.
  12. Central market for exporting fruits & vegetables in Sana’a and Hodeidah.

The Bank Supreme Investment Council:

Dr. Ahmed Ali Al Hamdani
Chairman of the Bank

Mr. Abbas Ali Hamood
Member of Board & Managing Director

Mr. Abdul Elah M.Almamari
Member of the Board & the Economic and Investment Consultant.

Mr. Abdul Karim Ismail Al Nawar
Member of Board of the Bank

Mr. Yahia Al Habbari
Member of Board of the Bank

Dr.Hussein Al Jalal
Member of Board of the Bank

Mr. Mohammed Naji Al Rowishan
Member of Board of the Bank

Mr. Saleh Al Murshed
Member of Board of the Bank

For further information, please do not hesitate to contact us to following address:

Watani Bank for Trade and Investment
Head Office
P.O. Box: (3058), Sana’a, Republic of Yemen
Tel: 00967 1 206613/ 8 Lines
Fax: 00967 1 215579/205706
Email: watanibank@y.net.ye
For Intra-Arab Trade Information Network
(Focal Point in Yemen)
Email: wbiatin@y.net.ye