Attijariwafa Bank, one of Morocco’s leading banks, has recently started trading in the Chinese Yuan, also known as renminbi.

Trading in yuan is to help local and African businesses to grow commercial partnerships with China, reported Shanghai Daily.

President of Attijariwafa Bank Mohamed Kettani said that such trading will encourage Moroccan societies to develop its business with China and African societies.

"China is a large economic power and its commerce with Morocco and Africa is developing very fast, so our bank decided to introduce the yuan facility aiming in the near future that all transactions with China will be solely with yuan," Kettani said, according to Shanghai Daily.

Noteworthy, Attijariwafa Bank is the largest bank in Morocco, with 3,265 branches, up from 3,197 in 2013 across Morocco and Africa. In Addition, it has subsidiaries in many European and Middle East countries catering mainly for Moroccans living there.

Photo Credit: Arabianeye-Reuters