Bank Negara Malaysia and the Ministry of Finance of Japan signed a memorandum of cooperation establishing a framework to promote the settlement of trade and investment in local currencies. The authorities agreed to pursue initiatives supporting local currency use in eligible cross-border transactions, backed by information sharing and periodic discussions between Malaysian and Japanese authorities.
Bank Negara Malaysia and Japan’s Ministry of Finance establish framework to promote local currency settlement
Bank Negara Malaysia and the Ministry of Finance of Japan established a cooperation framework to promote local currency settlement for trade and investment. The framework covers eligible cross-border transactions and provides for information sharing and periodic discussions.