The central banks of Thailand, Indonesia and Malaysia launch a local currency settlement framework between them to promote trade and investment trilaterally. All three frameworks, namely the rupiah-ringgit framework, rupiah-baht framework, and expanded baht-ringgit framework, will be effective from Jan 2, 2018. The baht-ringgit settlement framework between BNM and the Bank of Thailand is also expanded to include direct investment to enrich existing trade transactions. The banks in Malaysia are CIMB Bank Berhad, Malayan Banking Berhad, Public Bank Berhad, RHB Bank Berhad, Bangkok Bank Berhad, Bank of Tokyo-Mitsubishi UFJ Malaysia Berhad, and United Overseas Bank Berhad. The banks chosen from Thailand are Bangkok Bank, Bank of Ayudhya, CIMB Thai, Kasikornbank, Krungthai Bank, Siam Commercial Bank, and United Overseas Bank (Thai).

Source: Bangkok Post December 12, 2017 02:48 UTC