KUALA LUMPUR, Aug 5 — Bank Negara Malaysia (BNM), Bank Indonesia (BI), and the Bank of Thailand (BOT) have appointed additional qualified commercial banks to participate in the Local Currency Transaction Framework (LCTF).
BNM said that these qualified banks, known as Appointed Cross-Currency Dealers (ACCDs), will facilitate cross-border settlement of trade and investment between the respective countries.
“This initiative follows several enhancements to the LCTF announced on February 17, 2025,” it said in a statement today.
BNM added that the expanded ACCD network will strengthen customer outreach, enhance market access to local currency liquidity and provide businesses with enhanced options for cross-border transactions between the three countries.
“BNM, BI, and BOT continue to support trade and investment growth through closer financial collaboration under the LCTF,” it said.
The newly appointed banks under the Malaysia-Indonesia LCTF comprise five Malaysian banks and four Indonesian banks.
The Malaysian banks are AmBank (M) Bhd, Bank of China (Malaysia) Bhd, OCBC Bank Malaysia Bhd, Standard Chartered Bank Malaysia Bhd, and Sumitomo Mitsui Banking Corporation Malaysia Bhd.
As for the Indonesian banks, the list comprises PT Bank Danamon Indonesia Tbk, PT Bank OCBC NISP Tbk, PT Bank Pembangunan Daerah Jawa Timur Tbk, and Bank of China (Hong Kong) Ltd (Jakarta Branch).
Meanwhile, the list of newly appointed banks under the Malaysia-Thailand LCTF consists of five Malaysian banks and one Thai bank.
The Malaysian banks are AmBank (M) Bhd, Bank of China (Malaysia) Bhd, Hong Leong Bank Bhd, OCBC Bank Malaysia Bhd, and Sumitomo Mitsui Banking Corporation Malaysia Bhd. The Bank of China (Thai) Public Company Ltd is the newly appointed Thai bank under the Malaysia-Thailand LCTF.
Concurrently, the newly appointed banks under the Indonesia-Thailand LCTF are PT Bank OCBC NISP Tbk and Bank of China (Hong Kong) Ltd (Jakarta Branch) for Indonesia, and Bank of China (Thai) Public Company Ltd for Thailand.
The full list of appointed banks is available on BNM’s website.
