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Home >> China
UPDATED: 08:10, June 15, 2007
Macao-based bank remits DPRK-linked 20 mln U.S. dollars
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Banco Delta Asia, a Macao-based bank, has remitted a sum of over 20 million U.S. dollars out of Macao, raising hopes for solving the impasse over the denuclearization of the Democratic People's Republic of Korea (DPRK).

A government press release from the Information Bureau issued on late Thursday quoted Francis Tam Pak Yuen, Secretary for Economy and Finance, as saying that the money is from dozens of accounts and the remittance was done according to the instruction of several dozens of clients from the DPRK.

"The affairs had come to an end for Macao," the official was cited.

He rejected to disclose where the money was sent, as the transition was a private matter between bank and clients, according to the release.

Tam was quoted as saying that the government of Macao Special Administrative Region's management over the bank had been extended to September this year and the operation of the bank is currently normal and stable.

He maintained the government's regrets over the U.S. Treasury's so called sanction over the Banco Delta Asia.

"The Bank had officially protested to the U.S. Treasury," Tam was cited.

The DPRK, which failed to shut down its main nuclear reactor by an April 14 deadline as agreed in six-party talks in February, insisted that its 25 million U.S. dollars frozen at the Macao bank must be returned before closing the Yongbyon nuclear reactor and starting new negotiations.

The DPRK funds were frozen after the United States blacklisted the bank in September 2005 for allegedly helping Pyongyang launder money, an allegation denied by the bank.

Pyongyang also denies the U.S. charges.

Source: Xinhua

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