North Korea Huali bank is the only joint-stock commercial bank in North Korea and the only commercial bank approved to operate RMB business. It was established in November 1997 and is a window for North Korea to understand the world economy. Huali bank is directly under the supervision and management of the Central Bank of Korea. Its main businesses include: personal savings deposits; Unit deposit and settlement; Handle letter of credit, foreign exchange remittance, cash settlement and import and export settlement; Foreign exchange loans and foreign exchange guarantees; Foreign exchange investment; Acting for local and foreign currency exchange; Credit investigation and consultation, and negotiate various businesses on behalf of others; Import and export trade; Exclusively carry out Chinese RMB deposit and custody business in North Korea.
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