Citis Global Transaction Services (GTS) has launched RMB settlement services in Sri Lanka as the country’s trade volumes with China continue to grow.
Developed to serve corporations involved in international trade, Citis RMB settlement services enable companies to open and maintain RMB accounts in RMB with Citi, and make RMB payments directly to beneficiaries. This service has been made possible by the recognition of the RMB as a settlement currency by the Central Bank of Sri Lanka.
Dilshan Seneviratne, head for Citis GTS in Sri Lanka, noted: Citi is committed to providing our clients with innovative solutions that allow them to make their business more effective. We saw the recognition of the RMB as a settlement currency by the Central Bank of Sri Lanka as an opportunity to help our clients eradicate currency exchange risks. This realization drove the launch of the RMB Settlement services in Sri Lanka.
(JDC)