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NK Prepares to Withdraw Funds from BDA

Written: 2007-02-28 13:36:47Updated: 0000-00-00 00:00:00

NK Prepares to Withdraw Funds from BDA

North Korea has reportedly sent four officials to Macao in preparation for the U.S. unfreezing of its accounts at a bank in the former Portuguese colony.

According to sources in Macao, a group of North Korean officials has been preparing to withdraw funds when the U.S. unfreezes the accounts at Banco Delta Asia.

The sources said that the funds will first be transferred to a Chinese bank and then moved to North Korea’s Daesung Bank.

A total of 24 million dollars has been frozen at BDA since September 2005. This includes six million dollars owned by Pyongyang’s Daedong Credit Bank, which conducts international transactions.

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