Under the auspices of Mr. Hussain Al Suhaily, Chairman of TYF, and Mr. Ibrahim Ahmed Al Houthi, Chairman of CAC Bank Board of Directors, Tamdeen Youth Foundation signed a memorandum of understanding with the Cooperative and Agricultural Credit Bank. The memorandum included coordination and joint cooperation in the provision of sustainable community development programs and support for recovery and economic recovery. 

It also aims to mobilize, manage and coordinate available resources and promote joint cooperation with humanitarian and development partners in Yemen, thereby achieving a successful strategic partnership between the Bank and the Foundation in community development, financial and humanitarian services for the poorest, youth and women, through economic empowerment programs, microfinance and local development.

The memorandum was signed by TYF's CEO Mr. Jamil Abdu, and CAC Bank's Head of Personnel and Branch Services, Engineer, Ibrahim Al Dailmi, and was attended by TYF's Economic Empowerment Director Mr. Nashwan Al Qubati, Director of MSMEs Department at CAC Mr. Abdulqudos Al Kebsi, Director of CAC Haddah Branch, Mr. Mohammed Aiysh, Head of Microfinance at CAC, Mr. Nabeel Ahmed Saeed, and a number of specialists from both sides.

The memorandum is part of the initiative of TYF to find common ground for coordination, cooperation, joint action and consensus on guiding directions and frameworks to prepare a national plan for a comprehensive strategy for economic and social recovery in Yemen.