Banco Nacional Ultramarino (BNU) and the Bank of China will remain as the money-issuing banks in Macau for the next ten years, the government of the Chinese special administrative region said on Friday.
The government of the former Portuguese territory has signed the new agency contracts for the issue of banknotes with the two banks for a period of ten years.
The new contracts take effect from this month and are valid until 15 October 2030.
BNU is part of Portugal’s Caixa Geral de Depósitos Group and is a platform for companies and individuals in business between China and Portuguese-speaking countries. It currently has 20 branches, two of them in the Chinese cities of Zhuhai and Shanghai.
The institution began operations in Macau in 1902 and has been issuing paper money for over 100 years, a function that was maintained after the creation of the Macau SAR Government in 1999 when the administration of the territory was transferred to China.
