Sana'a: A seminar on digital banking and electronic wallets was held today in Sana'a, organized by the General Union of Chambers of Commerce and Industry and the Yemeni Banks Association.

According to Yemen News Agency, Mohammad Salah, Vice Chairman of the General Union of Chambers, highlighted the seminar's importance in promoting the transition to digital transactions, changing the prevailing financial culture, and urging authorities to enact relevant legislation. He emphasized the seminar's focus on digital banking and e-wallets.

Governance, risk, and compliance advisor Abd al-Ilah Salam delivered a presentation titled 'From Traditional Bank to Digital Bank: A Journey of Risks and Opportunities'. Meanwhile, the deputy head of the Yemeni Banks Association, Akram Al-Jarmouzi, presented on the requirements for digital transformation in banks and its impact.

The seminar concluded with several key recommendations and outcomes. Participants encouraged traders to adopt electronic wallets instead of cash transactions. It was proposed to form a joint committee, including banks, e-wallet operators, and the commercial sector, to follow up on seminar outcomes, coordinate with relevant authorities, and develop an implementation plan. Additionally, there was emphasis on innovating new electronic payment models suited to Yemen's banking sector.

Participants emphasized that digital transformation is the best solution to the liquidity crisis, facilitates financial transactions across society, and reduces financial delays through a complete electronic cash cycle using e-wallets.