BNM, Bank of Thailand hold conference on currency settlement framework

Bank Negara Malaysia (BNM) and Bank of Thailand (BOT) have jointly organised a conference to create awareness on the benefits of using Thai baht for trade settlements among Malaysian businesses.

In a statement, BNM said the conference, themed "Malaysian Ringgit and Thai Baht Local Currency Settlement Framework: Future Prospects" would benefit businesses by minimising risks associated with volatilities in international currencies.

"The conference held last week was attended by 300 participants from government agencies, business chambers, banks and various industry players such as multinational corporations and small and medium enterprises that are actively undertaking import and export activities with Thailand," the central bank said.

The commercial banks which are appointed as the cross-currency dealers (ACCDs) for Malaysia conducted sharing sessions and product presentations to encourage the use of Thai baht in trade settlements.

For further information on the products, contact the nearest ACCDs including Malayan Banking Bhd, Bangkok Bank Bhd and CIMB Bank Bhd. -- Bernama