TISA Bank Brings Direct Yuan Deals to PNG Traders

 Papua New Guinea businesses trading with China can now settle payments straight in Chinese yuan without the usual hassles of multiple currency conversions, following a new service rolled out by TISA Bank.

TISA Bank Brings Direct Yuan Deals to PNG Traders

The local lender has tied up with banking partners in China to allow direct yuan settlements using the country’s Cross-Border Interbank Payment System. This move cuts out extra steps that often slow things down and add to costs for importers and exporters in PNG.

Customers will see their accounts debited in kina and the payment settled directly in yuan to recipients in China. The bank says the arrangement should make trade smoother, quicker and cheaper, especially for companies regularly dealing with Chinese suppliers or buyers.

TISA Bank is promoting the service as a game-changer for local firms, offering competitive exchange rates quoted directly between kina and yuan. Transactions run through established SWIFT channels and meet international compliance standards.

Bank officials highlighted benefits including reduced delays, lower fees and greater certainty on final amounts received. The system also supports personal remittances where eligible.