Banks Look to Offer Services Using Renminbi
Banks here are trying to take advantage of a growth in Chinese investment by launching services that will allow payments from local banks to be made in China’s currency, the renminbi. Grant Knuckey, CEO of ANZ Royal Bank, said that because of a growing number of local firms that trade directly with companies in China, more businesses are in need of a way to do transactions from Cambodia using the renminbi with low processing times and conversion fees. Acknowledging the demand, ANZ Royal launched such a service earlier this month. …
