The Bangladesh Bank has allowed banks to maintain accounts in yuan with their corresponding branches abroad to settle cross-border transactions in the Chinese currency.
"To bring wider scope, it has been decided that the Authorised Dealers (ADs) may maintain accounts in Chinese yuan (CNY) renminbi with their correspondents or branches abroad for settlement of cross-border transactions executed in this currency," said a central bank circular on Thursday.
Previously, the authorised dealers could maintain foreign currency clearing accounts with the Bangladesh Bank in the Chinese currency.
