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Millenium Bim offers advantages in Chinese currency transactions
11:38 CAT | 06 Jun 2017
File photo / The Chinese Cross-Border Interbank Payment System, also referred to as the Chinese International Payments System (CIPS), offers participants cross-border renminbi (RMB) clearing and settlement services.
Millennium Bim bank has launched a Chinese currency transaction service that offers a number of advantages, a press release sent to Club of Mozambique says. Customers who import Chinese products and services will now be able to make their payments in Chinese currency.
This measure aims to facilitate business and trade between the Millennium Bim clients and their Chinese suppliers, at a time when China is becoming one of Mozambique’s main economic partners.
This service was created under the China International Payment System (CIPS) and customers who wish to benefit from it have to comply with the documentation requirements of the Chinese authorities. These transactions do not have a transfer limit, but do require that beneficiary companies have accounts based in Chinese territory.
The service responds to a growing market need, and Millennium Bim’s offer of the new service demonstrates its interest in and concern for its clients.
The service joins a suite of services that Millennium Bim has created for companies, including a recently launched business credit card which guarantees better management of the company’s accounts, including employees’ expenses.
Millennium Bim’s objective is to remain at the forefront of innovation, providing its customers the best services with the best conditions.
Source: Millenium bim
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