gulfnews : Standard Chartered sees more Middle East yuan debt

Standard Chartered, the UK’s second-biggest bank by market value, expects more companies in the Middle East to raise funds in yuan, a senior executive said.
“Is the trajectory of this going north over the next five years? Yes. Absolutely,” Viswanathan Shankar, chief executive officer for the Middle East, Africa, Europe and the Americas, said in an interview at the World Economic Forum in Istanbul.
Emirates NBD sold 1 billion yuan (Dh578 million) of so-called dim sum bonds in March, the first sale of such securities in the Middle East, as the company sought to draw funds from China, a country with a trade surplus that has made it the world’s biggest savings pool.

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