Bank Negara, BI and BOT widen local currency transaction framework
In a statement, Bank Negara said these banks will facilitate cross-border trade and investment settlements in local currencies between the respective countries.
The central bank added that this initiative follows a series of enhancements to the LCTF announced on Feb 17, 2025.
'The expanded ACCD network will strengthen customer outreach, enhance market access to local currency liquidity, and provide businesses with more options for cross-border transactions between Malaysia, Indonesia and Thailand,' it said.
'Bank Negara, BI and BOT remain committed to supporting trade and investment growth through closer financial collaboration under the LCTF.'
Among the newly appointed banks are AmBank (M) Bhd, Bank of China (Malaysia) Bhd, OCBC Bank Malaysia Bhd, Standard Chartered Bank Malaysia Bhd and Sumitomo Mitsui Banking Corporation Malaysia Bhd.
The expanded list of ACCDs covers local currency pairings between the Malaysian ringgit (MYR), Indonesian rupiah (IDR) and Thai baht (THB).
The newly appointed banks are listed below:
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