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Do Yemeni Banks Adhere to Best Practices of Anti-Money Laundering?

Author

Listed:
  • Bassam Raweh
  • Fadi Shihadeh
  • Farouk Alobaidi
  • Abdullah Aloqab

Abstract

This study intends to confirm whether the banks in Yemen adhere to international laws and procedures on anti-money laundering. We used primary data and descriptive analytical methods. The research encompasses 11 banks located in the Yemeni capital of ¡°Sana¡¯a¡± . The total number of branches used as study sample is 60. The analysis reveals that most Yemeni banks adhere to international laws and regulations on anti-money laundering. We recommend conducting further studies on the topic including its effect on financial results, the influence of the technological system, further controls needed in the country.

Suggested Citation

  • Bassam Raweh & Fadi Shihadeh & Farouk Alobaidi & Abdullah Aloqab, 2018. "Do Yemeni Banks Adhere to Best Practices of Anti-Money Laundering?," Business and Economic Research, Macrothink Institute, vol. 8(1), pages 164-177, March.
    • Handle: RePEc:mth:ber888:v:8:y:2018:i:1:p:164-177
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    File URL: http://www.macrothink.org/journal/index.php/ber/article/view/12424/9896
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    File URL: http://www.macrothink.org/journal/index.php/ber/article/view/12424
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    References listed on IDEAS

    as
    1. Bassam Ali Raweh & Cao Erbao & Fadi Shihadeh, 2017. "Review the Literature and Theories on Anti-Money Laundering," Asian Development Policy Review, Asian Economic and Social Society, vol. 5(3), pages 140-147, September.
    2. Bassam Ali Raweh & Cao Erbao & Fadi Shihadeh, 2017. "Review the Literature and Theories on Anti-Money Laundering," Asian Development Policy Review, Asian Economic and Social Society, vol. 5(3), pages 140-147.
    3. Robert Arasa, 2015. "Determinants of Know Your Customer (KYC) Compliance among Commercial Banks in Kenya," Journal of Economics and Behavioral Studies, AMH International, vol. 7(2), pages 162-175.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ambareen Beebeejaun, 2023. "Compliance with anti-money laundering procedures by banks—the case of Mauritius," Journal of Banking Regulation, Palgrave Macmillan, vol. 24(4), pages 474-483, December.

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    More about this item

    Keywords

    Anti-money laundering; Yemeni banks; Central banks; Financial institutions; Procedures; Laws;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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