Malaysia, Thailand, Indonesia sign MoUs on Local Currency Settlement Framework
24 December 2016 | Source: Bernama
BANGKOK, Dec 24 (Bernama) -- Bank Indonesia, Bank Negara Malaysia, and the Bank of Thailand Friday concluded the signing of two bilateral Memoranda of Understanding (MoUs) on using local currencies for trade, a key milestone in regional central banking cooperation, Thai News Agency (TNA) reported.

Bank Negara Malaysia and the Bank of Thailand, respectively, signed MoUs with Bank Indonesia on a framework of cooperation to promote the settlement of bilateral trade and direct investment in their local currencies.

Following the successful implementation of a similar arrangement between Bank Negara Malaysia and the Bank of Thailand earlier this year, these bilateral arrangements will efficiently facilitate economic and financial activities among the three countries.....


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