BNU and Bank of China to Remain as Macao Bank Notes Issuers Until 2030

 

Bank of China, Limited and Banco Nacional Ultramarino, S.A., will remain, until 2030, the issuers of Macao currency, under new agency contracts for the issuance of banknotes, signed today.

 

According to a statement from the Monetary Authority of Macao, the new agency contracts for the issuance of banknotes with legal tender were signed by the Secretary for Economy and Finance, Lei Wai Nong, on behalf of the Macao SAR Government.

 

Li Guang, Governor of the Macau Branch of the Bank of China and Carlos Cid Álvares, Vice-Chairman of the Board of Directors of Banco Nacional Ultramarino, SA., represented the two financial institutions at the ceremony.

 

The new contracts for the issuance of banknotes take effect from this month, for a period of ten years, ie, valid until 15 October 2030.

 

Under these contracts, the two agent banks will have an equal share of the banknotes issuance function.

 

Photo: BNU Headquarters, Macau

 

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