Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Bank Negara Malaysia. Photo courtesy of thesun.my.
The newly appointed ACCD banks will facilitate cross-border transactions for trade in goods, services, direct investment, and portfolio investment.
By expanding the network of participating banks, the three central banks aim to enhance service reach for consumers, improve access to local currency liquidity, and offer businesses a wider range of cross-border payment options between Indonesia, Malaysia, and Thailand.
This initiative builds on the operational harmonization agreement for the Local Currency Transaction Framework (LCTF) signed on February 17, 2025.
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