Standard Chartered Expects OK For Yuan Credit Cards

Standard Chartered expects to win approval from the China Banking Regulatory Commission to issue yuan-dominated credit cards in the country, a spokesperson for the United Kingdom-based bank tells CardLine Global. The spokesperson declines to say when the bank expects to receive approval. The bank late last year applied to issue yuan-based debit and credit cards in China. Standard Chartered received permission to issue debit cards in China and this month said it had begun to issue them (CardLine Global, 28 July).