Bereke Bank resumes operations with dollars

Senior business correspondent
Bereke Bank has resumed foreign exchange transactions. Photo: Shutterstock

Bereke Bank (a former subsidiary of the Russian Sberbank) has resumed payments, currency transfers and conversion operations in dollars both within Kazakhstan and to foreign financial entities, the bank said in a statement.

«The resumption of operations with the US dollar was a logical step for Bereke Bank, which is striving to restore all its business operations after being removed from the sanctions list. The bank has opened correspondent accounts in dollars both in Kazakhstani banks and in foreign correspondent banks,» the bank reported.

Bereke Bank also supports transactions with the tenge, Russian ruble and Chinese yuan. The bank now wants to resume operations with the euro and restore relations with international payment systems Visa and Mastercard.

Bereke Bank (formerly JSC Sberbank) was removed from the US list of Specially Designated Nations in March 2023, less than a year after it was sold to the government of Kazakhstan, which controls the bank via Baiterek Holding.

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