Top UAE bank launches renminbi trading

Emirates NBD launches renminbi accounts to support SMEs.

The bank, the biggest lender by assets in the United Arab Emirates, has launched its own renminbi-denominated accounts and deposits to support small and medium enterprises (SMEs) that conduct trade settlements.

Emirates NBD said the new products were especially designed to support SME customers in the UAE with China affiliations. The accounts allow them to conduct trade settlements and hedge currency risks. There are some 3,000 Chinese firms in the UAE.

Emirates NBD said the enormous increase in the UAE’s bilateral trade with China and the fast growing Chinese-related business and resident population in the UAE have made the UAE focus significantly on China.

Bilateral trade between China and the UAE increased fivefold over the past 10 years to US$15.6 billion in 2012.

Also Read

Singapore, Japan renew bilateral swap arrangement

China, Thailand ink MOU to enhance local currency use

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia