Open AccessDo Yemeni Banks Adhere to Best Practices of Anti-Money Laundering?
Author(s) -
Bassam Raweh,
Fadi Shihadeh,
Farouk Alobaidi,
Abdullah Aloqab
Publication year - 2018
Publication title -
business and economic research
Language(s) - English
Resource type - Journals
ISSN - 2162-4860
DOI - 10.5296/ber.v8i1.12424
Subject(s) - money laundering , business , capital (architecture) , sample (material) , accounting , descriptive statistics , financial system , finance , geography , chemistry , statistics , mathematics , archaeology , chromatography
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.