Bangladesh Bank (BB) has allowed banks to
maintain accounts in Yuan with their corresponding branches abroad to settle
cross border transactions in Chinese currency.

“To bring wider scope, it has been decided that Authorized Dealers (ADs) may
maintain accounts in Chinese Yuan Renminbi (CNY) with their correspondents or
branches abroad for settlement of cross border transactions executed in this
currency,” said a BB circular today.

Previously, the authorized dealers could maintain foreign currency clearing
account with the Bangladesh Bank in the Chinese currency.