North Korea’s Bankers Study Reform

From the BBC:

North Korea has reportedly sent a delegation of bankers to China to study financial reform.  The eight-strong team from North Korea’s central bank has arrived in the Chinese capital on a three-month study tour, the Financial Times reported.  The bankers’ mission is the latest sign that communist North Korea may be considering fundamental reforms.

An executive of one of China’s top four commercial banks who has met the Korean team as saying they are “very keen to learn”. The Chinese banker added: “But it feels strange for us as we are students of financial reform too. The student has become the teacher.”

The North Korean team is thought to be visiting China’s top four commercial banks – the Bank of China, the Industrial and Commercial Bank of China, Agricultural Bank of China and China Construction Bank.

They have reportedly asked how many customers a bank would need, highlighting the fact that North Korea’s banking system is at a rudimentary stage.


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