Commercial Bank offers NRFC accounts in Chinese Yuan

Monday, 28 November 2011 00:00 - - {{hitsCtrl.values.hits}}

Commercial Bank has announced that it is now offering Non-Resident Foreign Currency (NRFC) accounts in the Chinese Yuan following its inclusion as a Designated Currency in Sri Lanka by the Central Bank.

The enhancement comes several weeks after the Bank began offering customers the option of transacting in Yuan for export and import dealings with counterparts in China, thereby substantially reducing conversion losses and time lapses in the conversion process.

Commercial Bank already offers NRFC accounts in all other Designated Currencies in the country including the US Dollar, Euro, Pound Sterling, Japanese Yen, Australian Dollar, Canadian Dollar, Singapore Dollar, Danish Kroner, Hong Kong Dollar, New Zealand Dollar, Norwegian Kroner, Swedish Kroner and the Swiss Franc.

The only Sri Lankan Bank to be listed among the top 1000 Banks in the world, Commercial Bank has been adjudged ‘Best Bank in Sri Lanka’ for 13 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.