Ghana news briefing
Stanbic customers to benefit from direct Chinese Yuan settlement service
Stanbic Bank Ghana has introduced direct access to China’s cross-border payment system to facilitate Yuan transactions between Ghanaian customers and Chinese counterparties.
He said the bank’s direct access to the China Cross-Border Interbank Payment System (CIPS) was a significant development for Ghana-China trade and would strengthen the financial infrastructure supporting bilateral commerce.
CIPS is a wholesale payment infrastructure authorised by the People’s Bank of China for clearing and settling cross-border transactions denominated in Renminbi (RMB), also known as 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.
