BAKU, Azerbaijan, February 8. The US government will remove Kazakh “Bereke bank” from its list of sanctioned financial institutions, Trend reports, citing the press service of the bank.
The bank said in a statement that the sanctions will be lifted because "Bereke Bank", earlier known as "Sberbank Kazakhstan", changed the owner. The financial institution is now a part of “Baiterek” National Management Holding, of which the sole shareholder is the Kazakh government.
The bank already submitted the necessary documents to the US authorities. The decision on removing the sanctions is expected to be made in March.
This will enable the bank will be able to return to work with foreign exchange transactions and resume correspondent relations with foreign banks.
The purchase of the bank took place in early September 2022. Consequently, the bank changed its name to "Bereke Bank". Also in September, the new owner of the bank filed a package of documents with the Office of Foreign Assets Control (OFAC) to lift sanctions off the bank.