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China, Tanzania deepen financial cooperation through wider RMB use_我的网站

一 |     China and Tanzania are set to deepen financial cooperation and expand the use of the Chinese currency renminbi (RMB), or the yuan, in cross-border trade and investment, as the Bank of China on Tuesday hosted an RMB internationalization roadshow in Tanzania.    The event, the 10th stop of the Bank of China's 2026 global use of RMB roadshow series, brought together more than 140 representatives from the Chinese Embassy in Tanzania, the Bank of Tanzania, major financial institutions and businesses from both countries to explore new opportunities for RMB cooperation.    Speaking at the event, Chinese Ambassador to Tanzania Chen Mingjian said growing economic and trade ties between the two countries had created increasing demand for efficient, convenient and low-cost RMB-based settlement and financing services in Tanzania.    "Bilateral trade between China and Tanzania reached 11.28 billion U.S. dollars in 2025, exceeding 10 billion U.S. dollars for the first time," Chen said, adding that trade reached 6.48 billion dollars in the first half of 2026.    China has remained Tanzania's largest trading partner and a major source of foreign direct investment for many consecutive years, she said.    Yun Yi, deputy general manager of the clearing department at Bank of China Head Office, said the bank would continue to leverage its global network and role as a major provider of cross-border RMB services to support the wider use of the Chinese currency in China-Africa trade and investment.    He said the bank would further enhance RMB financial services and facilitate practical cooperation across a wide range of sectors, contributing to higher-quality China-Africa economic and trade cooperation.                    。    New Delhi, Oct 10 (UNI) Delhi High Court has passed an order to close all proceedings against Delhi Health Minister Satyendar Jain under the Benami Transaction (Prohibition) Amendment Act as per the judgment of Supreme Court on Benami law.

Justice Yashwant Varma after hearing a number of petitions filed by Jain and others against the initiation of proceedings under the Benami Transactions (Prohibition) Amendment Act, 2016 passed an order that in view of judgment passed by Supreme Court the writ petitions are allowed and the proceedings initiated under the enactment shall consequently closed.

Delhi High Court on last date of hearing passed an order that no coercive action shall be taken against Delhi's Health Minister Satyendar Jain and other petitioners under the Benami Transactions (Prohibition) Amendment Act, 2016.

The Supreme of India has held in a case that Benami Transactions (Prohibition) Amendment Act, 2016 did not have retrospective application and the authorities cannot initiate or continue confiscation proceedings for transactions entered into prior to the coming into force of the legislation.

Counsel for Jain had filed a petition in 2017 against the proceedings initiated against him under the new Benami law by submitting that the Benami proceedings against him were in the nature of political persecution.

Counsel further submitted that the alleged Benami transactions, from the proceeds of which certain attached assets were claimed to have been purchased, took place between 2011 to March 31, 2016 so the amendment which came into effect in November 2016 would not apply.

UNI XC SHK2234。

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