UAE-Backed Southern Transitional Council Accuses Saudi-led Coalition Government of Causing a Banking Liquidity Crisis

UAE-Backed Southern Transitional Council Accuses Saudi-led Coalition Government of Causing a Banking Liquidity Crisis

The UAE-backed Southern Transitional Council (STC) accused the government loyal to the Saudi-led coalition of bankrupting the Central Bank of Aden from foreign financial liquidity.

According to pro-coalition media, the race to loot funds contributed to the depletion of foreign currency liquidity, especially the US dollar and the Saudi riyal, which led to a new escalation of the conflict between the STC and the pro-coalition government headed by Maeen Abdul-Malik.

Last Tuesday, pro-STC’s Aden Independent Channel (AIC TV) published information revealing a massive financial scandal for Maeen Abdul-Malik and the leadership of the central bank of Aden.

The channel accused the pro-coalition government and bank of Aden of borrowing a sum of one million Saudi riyals from a private bank to pay salaries and allowances to Maeen Abdul- Malik and employees of the Council of Ministers without paying the pro-STC ministers