Bank Negara Malaysia, Bank Indonesia and the Bank of Thailand announced the appointment of additional qualified commercial banks as Appointed Cross-Currency Dealers (ACCDs) to operationalise the Local Currency Transaction Framework (LCTF) for cross-border settlement of trade and investment between Malaysia, Indonesia and Thailand. The move follows enhancements to the LCTF announced on 17 February 2025. The expanded ACCD network is intended to widen customer outreach and improve access to local currency liquidity for MYR-IDR, MYR-THB and IDR-THB transactions. For MYR-IDR, the newly appointed banks are AmBank (M) Berhad, Bank of China (Malaysia) Berhad, OCBC Bank Malaysia Berhad, Standard Chartered Bank Malaysia Berhad and Sumitomo Mitsui Banking Corporation Malaysia Berhad on the Malaysian side, and PT Bank Danamon Indonesia Tbk, PT Bank OCBC NISP Tbk, PT Bank Pembangunan Daerah Jawa Timur Tbk and Bank of China (Hong Kong) Limited Jakarta Branch on the Indonesian side. For MYR-THB, the appointees are AmBank (M) Berhad, Bank of China (Malaysia) Berhad, Hong Leong Bank Berhad, OCBC Bank Malaysia Berhad and Sumitomo Mitsui Banking Corporation Malaysia Berhad in Malaysia, and Bank of China (Thai) Public Company Limited in Thailand. For IDR-THB, the appointees are PT Bank OCBC NISP Tbk and Bank of China (Hong Kong) Limited Jakarta Branch in Indonesia, and Bank of China (Thai) Public Company Limited in Thailand.
Bank Negara Malaysia 2025-08-05
Bank Negara Malaysia, Bank Indonesia and the Bank of Thailand appoint additional cross-currency dealers for the Local Currency Transaction Framework
Bank Negara Malaysia, Bank Indonesia, and the Bank of Thailand have appointed more commercial banks as Appointed Cross-Currency Dealers (ACCDs) to enhance the Local Currency Transaction Framework (LCTF) for cross-border trade and investment settlements. This aims to improve local currency liquidity and customer outreach for MYR-IDR, MYR-THB, and IDR-THB transactions. Newly appointed banks include AmBank, Bank of China, OCBC Bank, Standard Chartered, and Sumitomo Mitsui in Malaysia, with corresponding appointments in Indonesia and Thailand.