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

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Bank of Thailand keeps policy rate unchanged at 0.5%

The Bank of Thailand kept its key policy rate unchanged at 0.5%, amid growing pressure coming from rising prices and monetary policy tightening by its peers.

How are emerging markets combatting cryptocurrency-related crime?

A record $14bn in digital currencies were transferred to illegal addresses last year, according to blockchain data platform Chainalysis, up 79% on the $7.8bn recorded in 2020.

UOB Thailand outlook changed to negative after acquisition of Citi

United Overseas Bank (Thai) Public Co Ltd, headquartered in Bangkok, reported total assets of THB725 billion as of 31 December 2021. The outlook was changed to negative from stable because the acquisition will result in a significant decrease in UOBT’s core capital ratio.