Rise of the redback: a Middle Eastern perspective

The Gulf Cooperation Council should urgently integrate its financial system into the emerging redback zone.

Rise of the redback: a Middle Eastern perspective

This year will mark a milestone in the internationalisation of the renminbi with the Chinese currency set to join the exclusive club used by the International Monetary Fund to determine the value of Special Drawing Rights, its supplementary foreign exchange reserve. 

This official recognition of its growing role in international trade and finance has been actively fostered by China, which has facilitated the settlement of trade transactions in renminbi, allowed the offshore issuance of...

To continue reading, please login or register for free

Click for more on: renminbi | china | asia | markets

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...