MINSK — Belarusbank, the largest bank in Belarus, signed a memorandum of understanding with China's UnionPay International (UPI) on financial service cooperation, the press service of the bank said on Friday.

The memorandum is aimed at establishing relations and applying to the services of the UnionPay payment system cardholders in the network of Belarusbank ATMs, retail and service organizations cooperating with the bank in accordance with the acquiring agreements.

UnionPay International (UPI) is a subsidiary of China UnionPay, focused on the growth and support of UnionPay's global business. In partnership with more than 1500 institutions worldwide, UnionPay International has enabled card acceptance in 162 countries and regions with issuance in 42 countries and regions.

Belarusbank is actively expanding its cooperation with China's financial institutions in various business areas, said Chairman of the Board of Belarusbank Viktor Ananich.

"Our interest in cooperation on acquiring UnionPay bank payment cards in Belarus is obvious," he added.

The Bank is also ready to continue the dialogue with China's financial community on cooperation in all areas of banking services, Ananich said.

"Fruitful cooperation between us will contribute to further deepening the Belarus-China relations," he said.