Business clients can now exchange Yuan cash to Namibian dollars at Standard Bank.
This was launched last night in part with the Chinese New Year celebrations which will occur on 8 February 2016.
With the opportunity for the exchange of Chinese cash, Renmimbi and Yuan, to Namibian Dollars, Standard Bank says that, “This brings further convenience to our clients in addition to our international swift transfers and trade relations services.”
At the launch event, Standard Bank employees explained that there will be no restriction on the amount of cash brought into the country, however individuals will have a limit of exporting N$1m dollars and corporations will have a limit of N$10m dollars per year.
The Ambassador to Namibia from China, Mr. Xin Shunkang commended the new exchange policy and said that, “When the Chinese economy is healthy, it is good for all countries and for Standard Bank.”
He encouraged Chinese businessmen and women to use Standard Bank to finance initiatives throughout the country.