MIRA INFORM REPORT

Report Date :

26.12.2013

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	No Trace

Payment Behaviour :	--

Litigation :	--

NOTES :

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ECGC Country Risk Classification List – March 31^st, 2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Yemen

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

YEMEN - ECONOMIC OVERVIEW

Yemen is a low income country that is highly dependent on declining oil resources for revenue. Petroleum accounts for roughly 25% of GDP and 70% of government revenue. Yemen has tried to counter the effects of its declining oil resources by diversifying its economy through an economic reform program initiated in 2006 that is designed to bolster non-oil sectors of the economy and foreign investment. In October 2009, Yemen exported its first liquefied natural gas as part of this diversification effort. In January 2010, the international community established the Friends of Yemen group that aims to support Yemen's efforts toward economic and political reform. In 2012, the Friends of Yemen pledged over $7 billion in assistance to Yemen. The Yemeni Government also endorsed a Mutual Accountability Framework to facilitate the efficient implementation of donor aid. The unrest that began in early 2011 caused GDP to plunge more than 15% in 2011, and about 2% in 2012. Availability of basic services, including electricity, water, and fuel, has improved since the transition, but progress toward achieving more sustainable economic stability has been slow and uneven. Yemen continues to face difficult long-term challenges, including declining water resources, high unemployment, and a high population growth rate

Source : CIA

COMPANY NAME

AL BEKAR FOR TRADING & MARKET (HASAN MOHAMMAD ALBEKAR)

ADDRESS

Registered & Physical Address

Country : Yemen

GENERAL COMMENTS

Upon investigation local sources were unable to locate a company called “Al Bekar for Trading & Market (Hasan Mohammad Albekar)” in Yemen. They also consulted local business directories and journals, as well as the local telephone operator however there was no mention of the subject of your enquiry.

Enquiries made with the local Chamber of Commerce also proved unsuccessful as they had no listing under the name of “Al Bekar for Trading & Market (Hasan Mohammad Albekar)”.

Should you be able to provide us with any further information on the subject of your enquiry we shall re-investigate and endeavour to send you a full report as soon as possible.

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.

INFORMATION DETAILS

Report Prepared by :

NIS

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