DHAKA, Sept 16 (NNN-BSS) – The central bank of Bangladesh, paved the way for banks in the country to maintain correspondent accounts in Yuan, the Chinese currency, to facilitate cross-border trade, based on the Chinese currency.
The Bangladesh Bank (BB) issued a circular in this connection yesterday, saying, “It has been decided that ADs ( Authorised Dealers) maintain accounts in CNY (the Chinese currency), with their correspondents/branches abroad, for settlement of cross border transactions, executed in this currency.”
The circular asked all the ADs to bring the contents of the circular to the notice of their relevant customers.
Earlier in 2018, the central bank of Bangladesh allowed authorised dealers to maintain a foreign currency clearing account with the BB, in the Chinese Yuan.– NNN-BSS
