Chinese Links

Sept 13, 2013 (LBO) – A top delegation from Sri Lanka’s banking sector headed by Central Bank Governor Nivard Cabraal had talks with key Chinese banks which are among the largest in the world.

“We are establishing links with Chinese banks,” Cabraal told LBO in a telephone interview.

“There has been a very good interaction. These are the banks of the future. They are among the biggest in the world.”

Senior officials of Sri Lanka’s top private banks were in the delegation.

Talks were held with the People’s Bank of China, the Industrial and Commercial Bank of China, the China Development Bank and foreign banks operating in China.

“The discussions mainly focused on strengthening the business relationships between banks in the two countries and enhancing the exposure of large Chinese banks, to investments and trade related activities in Sri Lanka,” the Central Bank said in a statement. In June 2011 Sri Lanka approved the use of Chinese Renminbi as a permitted currency for international transactions.