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Chinese bank places Zimbabwe on sanctions list

by Staff reporter
08 Aug 2019 at 06:49hrs | Views
A Chinese government-owned financial institution, China Everbright Bank, one of its largest investment arms across Europe and Africa, has placed Zimbabwe on a list of countries it will not be dealing with.

In a communique, a copy, China Everbright Bank indicates that Zimbabwe will not be able to conduct business on any of its platforms even through counter party countries on its behalf.

According to NewZimbabwe, China Everbright Bank is one of twelve Chinese joint-stock commercial banks. It was ranked 139th in 2016 Forbes Global 2000 publicly held companies and one of its sister companies is Everbright Securities ranked 862th in the world. It is ranked 39th in the top 1000 banks of the world with over a thousand branches in the Asian giant's 30 provinces and Europe.

The list titled, 'Unilateral Sanctions' is a notice to bank officials and places Zimbabwe under similar regulations it is fleeing from Western financial institutions.

Along with Zimbabwe, 10 other African countries are on the blacklist and these include Sudan, South Sudan, DRC, Burundi, Liberia, Central Africa Republic (CAR), Libya, Somalia and Ivory Coast. The list also has countries like war-torn Syria, Iraq, Iran, Yemen, Venezuela and Serbia.

Albania, Belarus, Balkan Peninsula, Bosnia and Herzegovina, North Korea, Cuba, Montenegro, Kosovo, Yugoslavia, Lebanon, Macedonia and Ukraine complete the list.

Source - newzimbabwe
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