U.S. Treasury Department removes sanctions on Bereke Bank

The US Treasury Department excluded Bereke Bank JSC from the restrictive lists of Specially Designated Nationals, El.kz reports with reference to the agency's website.

The U.S. Treasury Department has removed Bereke Bank from the SDN sanctions list of the Office of Foreign Assets Control (OFAC).

Sberbank sold its Kazakh branch to Baiterek NUH in early September of last year after which the subsidiary was renamed Bereke Bank. The application to lift the sanction was sent in the same month.