Business news

MINSK, 25 August (BelTA) - Belarusbank signed the memorandum of understanding with UnionPay International (China) on 25 August in Minsk, BelTA has learned.

The memorandum is aimed at establishing strategic partnership, developing long-term and effective cooperation and promoting mutual understanding on joint projects. First of all, it applies to the servicing of the UnionPay payment system cardholders in the network of Belarusbank ATMs, retail and service organizations cooperating with the Bank in accordance with the acquiring agreements.

“We attach great importance to this meeting and have high business hopes. We plan to start our cooperation with acquiring but are not going to delay with the issue of the cards. Belarusbank is actively beefing up cooperation with the Chinese financial institutions in different lines of business,” Chairman of the Board of Belarusbank Viktor Ananich said.

Belarusbank maintains correspondent relationships with 51 Chinese banks. Direct accounts have been opened to make yuan transactions. The cooperation has been established to finance Belarus-China investment projects in industry, energy, transport, small- and medium-sized business and other fields. Belarusbank actively cooperates with the Belarus-China industrial park Great Stone. According to Viktor Ananich, the sides agreed to open a branch of Belarusbank in the park. The establishment of a China-Belarus investment fund is in the pipeline, too.

“Belarusbank is ready to continue the dialogue with China’s financial community and cooperate in all kinds of banking services. Fruitful partnership will help strengthen the Belarus-China relations,” Viktor Ananich noted.