Standard Chartered Bank, Nepal organized a knowledge sharing seminar on RM usage in Kathmandu on Tuesday. The seminar was led by Frankie Shu On Au, Global Head - RMB Products from Standard Chartered Bank, Hong Kong. He comes with considerable amount of expertise in this area and has hosted similar seminars globally.
According to a statement, the objective of the seminar was to share the Bank’s expertise on RMB Internationalisation and how the redenomination of trade into RMB can generate pricing and competitive advantages for Nepali institutions. It also aimed to add much needed value in understanding the rapidly growing trade with China and Internationalization of RMB.
During the session, Frankie highlighted about RMB becoming mainstream and being critical to business growth, trade and liquidity management. He also shared about the rise of China and the internationalization of the RMB being one of the most profound changes to the world economic system in the last 50 years, presenting both opportunities and challenges.
Further, Frankie talked about the real economic relationships that Nepal has established based on its long-standing trade links to China and the opportunities that exist for Nepal to review RMB internationalisation in light of the possible strategic advantages and risk implications.
Existing and potential local corporate clients, senior officials and staff of the Bank actively participated in the seminar.