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BELGRADE (Serbia), September 15 (SeeNews) - Serbian state-run lender Banka Postanska Stedionica said on Friday it has launched a cooperation project with the local unit of Bank of China to take advantage of the compatibility of their activities.
The cooperation project has already allowed Banka Postanska Stedionica to start talks for the usage of China UnionPay credit and debit cards, the CEO of the Serbian bank, Bojan Kekic said in a video file posted on the website of Serbian news agency Tanjug.
Under the terms of the cooperation agreement, Bank of China and Banka Postanska Stedionica will jointly manage money transfers for the payment for services and goods of all Chinese companies active in the construction of big civil engineering projects in Serbia.
Banka Postanska Stedionica has been allowing transactions in Chinese yuans since September 1, Kekic added.
Bank of China received a nod from the Serbian central bank to incorporate a subsidiary in Serbia in November 2016. In January, Bank of China appointed the former governor of Serbia's central bank, Dejan Soskic, as management board member of its Serbian unit.