"Keremet Bank" to appeal US sanctions to OFAC

"Keremet Bank" commented on the imposition of sanctions against the bank by the United States, which became known yesterday after a statement from the U.S. Department of the Treasury.

"Keremet Bank" assured that the bank operates in strict accordance with national legislation and international law, adhering to principles of transparency and accountability, and continues to function as normal.

‘The bank will apply to OFAC to appeal the statement of the Office of Foreign Assets Control of the US Department of the Treasury (OFAC), which alleges alleged violations by our bank,’ the FCU said.  "The bank will appeal to OFAC to contest the statement from the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC), which alleges purported violations by our bank", — the financial institution's representatives said.

The financial institution also added that the mentioned events will not affect the bank's operations and it continues to fully meet its obligations to depositors. All branches are operating according to schedule and operational activities are being carried out in full.

We are open to dialogue and ready to cooperate with regulatory authorities, including international auditors, and we will additionally notify the bank's partners and customers as new information emerges. "We are open to dialogue and ready to cooperate with regulatory authorities, including international auditors and will further inform the Bank's partners and clients as new information becomes available", — the bank added.

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