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.

You May Also Like

TAT and Visa sign MoU to boost tourists spending

The Tourism Authority of Thailand (TAT) and Visa have signed a Memorandum of Understanding (MoU) for the latest collaboration on innovative data-driven marketing strategies with the objective of encouraging Visa cardholders from overseas to spend more while travelling in Thailand.

Bank of Thailand (BoT) increases key rate 25 basis points to 2%

The move was widely anticipated by analysts and economists, who cited the need to contain inflationary pressures and maintain financial stability amid a strong economic recovery and global uncertainties.

Taming Thai Household debt

The central bank has also set a goal of reducing Thai household debt to less than 80% of GDP to reduce financial and economic risks. As of the fourth quarter of last year, household debt stood at 15.1 trillion baht, accounting for 86.9% of GDP.