Stanbic Bank Ghana has become the first bank in the country to offer clients direct access to the China Cross-Border Interbank Payment System, following approval from the Bank of Ghana in a move expected to simplify and accelerate trade and financial transactions between Ghana and China. CIPS is a wholesale payment system authorised by the People’s Bank of China for clearing and settling cross-border transactions in Chinese Yuan. In a press release commenting on the introduction of CIPS, Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning, described the launch as a significant milestone for both the bank and Ghana’s trade relationship with China. This is a landmark moment for Stanbic Bank Ghana and for the Ghana–China trade relationship,” he said. The introduction of CIPS provides a direct bank-to-bank settlement route in Chinese Yuan, helping to address these challenges while allowing customers to continue banking through their existing Stanbic Bank relationship managers, branches and digital channels.