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.....

Bernama

MLTIC works with BERNAMA, the national news agency of Malaysia, to bring you the latest Malaysian legal and tax developments. BERNAMA is one of the country's leading content providers of up-to-the-minute news reports, updates and analysis for newspapers, tv and radio stations, global wire services and the Internet. It provides several services including news-wire and online database services. MLTIC thanks BERNAMA for supporting the Free Access to Law movement in Malaysia.

Notice: The Publishers of MLTIC acknowledge the permission granted by the relevant official/original source for the reproduction of the above/attached materials. You shall not reproduce the above/attached materials in whole or in part without the prior written consent of the Publishers and/or the original/official source. Neither the Publishers nor the official/original source will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/attached materials. The Publishers and the official/original source also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, MLTIC and contents herein are subject to the Terms of Use.