Ak Bars Bank has suspended outgoing transfers in foreign currency for legal entities

Ak Bars Bank, due to US sanctions, has suspended the possibility of outgoing transfers in foreign currency for legal entities; the service rules for individuals have not changed. At the same time, the bank asked all clients to wait to make outgoing transfers in foreign currency until further clarification appears in order to avoid delays in correspondent banks, it reports Interfax with reference to the press service of the financial organization.

On September 14, Ak Bars Bank, which is in the top 25 in the Russian Federation by assets, and Cinco Bank, which is in the third hundred, were included in the US blocking sanctions list. Both Russian banks (according to data before the closure of information about shareholders, Ak Bars was under the control of Tatarstan, Sinco Bank belonged to an Israeli citizen) were actively conducting business in the field of foreign currency payments. In particular, Ak Bars had direct correspondent relations with banks in China, the UAE and Turkey; transfers in the currencies of the CIS countries were available to it. Press service of Ak Bars after the bank came under sanctions statedthat the organization’s branches and all services operate as usual, and also guaranteed the safety and protection of client funds.

More details in the material “Currency-cancellation operations”.

Erdni Kagaltynov