September 29, 2020

N. Korean bank offering savings accounts in foreign currencies, photos reveal

Growth of domestic banking could be linked to international sanctions, says expert

A pamphlet advertising the services of Unsong Credit Joint Bank, obtained by NK News, has revealed some of the technical details of North Korea's burgeoning financial sector.

The bank says customers can deposit in “any convertible foreign currency” including Euros (EUR), U.S. Dollars (USD), Japanese Yen (JPY), Chinese Yuan (CNY), Hong Kong Dollars (HKD) and British Pounds (GBP).