Parliament, in its session held today, headed by Parliament Speaker Yahya Ali Al-Rai, heard from the Minister of Legal Affairs, Dr Ismail Al-Mahaqari, for the explanatory memorandum for law draft banning usurious transactions.

In the session, in the presence of the state minister for Parliament and Shura Council Affairs, Dr. Ali Abdullah Abu Haliqa,Parliaments stressed the importance of this law, taking into account that none of the draft laws conflict with articles of other laws in force, and the preservation of the rights of depositors.

In the context of their discussions and observations,Parliaments touched on the importance of recourse to the opinions, observations of specialists, economists and relevant authorities, in a way that enriches the draft of this law and that there is a clear vision to address the relevant economic and financial aspects.

After the Council held an initial discussion, it approved referring the draft law with its explanatory memorandum to the “Financial Affairs, Codification of the Provisions of Islamic Sharia, and Justice and Endowments” committees to study it and provide the Council with the results of that.

The Council had started its session by reviewing its previous minutes, approved it, and will continue to hold its business sessions tomorrow, Tuesday - God willing.

Source: Yemen News Agency