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Belarusbank, UnionPay International sign Memorandum of Understanding


Belarusbank and UnionPay International (UPI) have signed a Memorandum of Understanding in the bank’s head office.

The purpose of the memorandum is to establish relations aimed at the provision of services to UnionPay cardholders in Belarusbank’s ATM network, as well as in the network of merchants cooperating with the bank in the framework of acquiring agreements.

“We attach great importance to this meeting and believe that it is associated with big business opportunities. Belarusbank is actively expanding cooperation with China’s financial institutions in various business areas, and our today’s meeting may serve as proof of that”, said Chairman of the Board of Belarusbank Viktar Ananich. “Our interest in cooperation in the field of acquiring UnionPay bank payment cards is obvious”, he added.

Currently Belarusbank has correspondent relationships with 51 Chinese banks, in which the bank has opened direct accounts to carry out RMB settlements. The bank participates in funding of Belarus-China investment projects in the spheres of manufacturing industry, power generation industry, transport, small and medium business, etc. In addition, Belarusbank is actively cooperating with the Great Stone China-Belarus Industrial Park. In association with Chinese partners the bank is working on the establishment of Belarus-China investment fund.

“Belarusbank has more than 120 partners in 35 countries. New contacts, expansion of the geography of interests of the banking community, new focuses of business growth, efficient cooperation schemes – all of these constitute an integral part of our bank’s development strategy”, Viktar Ananich added. “The bank is also ready to continue dialogue with the financial community of the People’s Republic of China on cooperation in all areas of banking services. Fruitful cooperation between us will contribute to the further deepening of Belarus-China relations”, he said.

The Chinese party confirmed its readiness to further expand business contacts.

Chairman of the Board of Directors of UnionPay International Ge Huayong, who headed the Chinese delegation, made an entry in the bank’s Distinguished Guests’ Book.

Belarusbank press service

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/ / Belarusbank, UnionPay International sign Memorandum of Understanding