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3 Asean central banks sign pact under ABIF

Bank Negara Malaysia has signed two heads of agreement with Bank of Thailand and Bangko Sentral ng Pilipinas under the Asean Banking Integration Framework. This is seen as a major step forward in the advancement of an integrated banking market within Asean and towards strengthening intra-regional trade and investment, said Bank Negara Malaysia. A statement said the heads of agreement with Thailand and the Philippines outline areas on market access and operational flexibilities that may be accorded to Qualified Asean Banks in the respective jurisdictions. Both agreements were signed by BNM governor Tan Sri Dr Zeti Akhtar Aziz and governor Veerathai Santiprabhob for Bank of Thailand and with governor Amando M. Tetangco, Jr for Bangko Sentral ng Pilipinas.

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