The central banks of Malaysia, Indonesia and Thailand have appointed additional qualified commercial banks to operationalise the Local Currency Transaction Framework (LCTF), which promotes the use of local currencies in cross-border trade and investment.
Bank Negara Malaysia, Bank Indonesia and the Bank of Thailand said the newly appointed Appointed Cross-Currency Dealers (ACCDs) will facilitate the settlement of trade and investment in local currencies between the three countries.
This move follows enhancements to the LCTF announced in February 2025.
The expanded ACCD network is expected to improve access to local currency liquidity, strengthen customer outreach, broaden transaction options for businesses and deepen regional financial cooperation.
Under the Malaysian ringgit and Indonesian rupiah corridor, the appointed Malaysian 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.
The Indonesian counterparts are 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.
For the Malaysian ringgit and Thai baht corridor, the Malaysian banks are AmBank, Bank of China (Malaysia), Hong Leong Bank, OCBC Bank (Malaysia) and Sumitomo Mitsui Banking Corporation Malaysia.
The appointed Thai bank is Bank of China (Thai) Public Company Limited.
In the Indonesian rupiah and Thai baht corridor, the Indonesian banks are PT Bank OCBC NISP Tbk and Bank of China (Hong Kong) Limited Jakarta Branch, while the Thai bank is Bank of China (Thai) Public Company Limited.
The three central banks said they will continue supporting trade and investment through closer financial collaboration under the LCTF.
Featured image: Edited by Fintech News Malaysia, based on image by user850788 via Freepik