Bank Negara Malaysia (the Bank) has today signed two Heads of Agreement with Bank of Thailand and with Bangko Sentral ng Pilipinas under the ASEAN Banking Integration Framework.
This signifies a major step forward in the advancement of an integrated banking market within ASEAN and towards strengthening intra-regional trade and investment.
The Heads of Agreement with Thailand and the Philippines outline areas on market access and operational flexibilities that may be accorded to Qualified ASEAN Banks in the respective jurisdictions.
Both agreements were signed by Governor Dr. Zeti Akhtar Aziz, Bank Negara Malaysia, with Governor Veerathai Santiprabhob, Bank of Thailand for the Heads of Agreement with Bank of Thailand, and with Governor Amando M. Tetangco, Jr., Bangko Sentral ng Pilipinas for the Heads of Agreement with Bangko Sentral ng Pilipinas. Bank Negara Malaysia14 March 2016
Source: BNM Press Statements