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Home› Sanctions & Restrictive Measures› DPRK Sanctions Regulation

Chapter IV · Restrictions on Transfers of Funds and Financial Services › Article 24

It shall be prohibited for credit and financial institutions:

(a)

to open an account with a credit or financial institution referred to in Article 21(2);

(b)

to establish a correspondent banking relationship with a credit or financial institution referred to in Article 21(2);

(c)

to open representative offices in the DPRK, or to establish a new branch or subsidiary, in the DPRK; and

(d)

to establish a joint venture with or to take an ownership interest in a credit or financial institution referred to in Article 21(2).

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