February 21, 2024

North Korean bank blacklisted by OFAC now providing trust fund services: leaflet

DPRK Credit Development Bank provides up to 8.5% rates of returns

A North Korean bank blacklisted by the U.S. Department of the Treasury is now providing customers with trust fund accounts and significant rates of return, a pamphlet obtained in-country by NK News has revealed.

The Daesong Credit Development Bank was established in 1994 and has branches in the DPRK and overseas. The bank has implemented “comprehensive financial services", the brochure claims.