Indonesia’s Financial Services Authority (OJK) has signed a letter of intent with the Bank of Thailand as part of the preparation for implementation of the ASEAN Banking Integration Framework (ABIF) between Indonesia and Thailand. OJK chief Muliaman D. Hadad and BoT governor Veerathai Santiprabhob signed the letter of intent in Bangkok. Hadad said that the cooperation will not only pave ways for Indonesia’s financial services industry to develop businesses in Thailand, but also to improve trade relations between the two jurisdictions. The ABIF is the process of banking integration in the region for the implementation of the ASEAN Economic Community (AEC).
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