Ghana news briefing
Stanbic Bank becomes first in Ghana to offer direct Chinese Yuan payments through CIPS
Synthesised from 2 Ghanaian sources
Stanbic Bank Ghana has become the first bank in the country to offer clients direct access to the China Cross-Border Interbank Payment System, following approval from the Bank of Ghana in a move expected to simplify and accelerate trade and financial transactions between Ghana and China.
Stanbic Bank Ghana, a subsidiary of Standard Bank Group, said the rollout reinforces its commitment to supporting international trade by providing businesses and individuals with more efficient cross-border payment solutions as commercial ties between Ghana and China continue to expand.
CIPS is a wholesale payment system authorised by the People's Bank of China for clearing and settling cross-border transactions in Chinese Yuan.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
