No. 23/187/DKom
Bank Negara Malaysia and Bank Indonesia today announced
the expansion of the ringgit-rupiah settlement framework. The framework was
first launched on 11 December 2017 in accordance with the Memorandum of
Understanding between Bank Negara Malaysia and Bank Indonesia that was signed
on 23 December 2016. This expansion, which will be effective from today, 2
August 2021, is part of the continuous effort to facilitate wider use of local
currencies for settlement of trade and direct investment between Malaysia and Indonesia.
The expanded framework now includes direct investment, income
and transfer, in addition to trade, as eligible underlying transactions. It
also includes expansion of eligible users of the framework, such as
individuals, and additional foreign exchange policy flexibilities, such as more
simple documentation requirement, to facilitate the operationalisation of the
framework.
Given the expansion, Bank Negara Malaysia and Bank
Indonesia have also appointed additional qualified commercial banks in both
countries to support the operationalisation of the expanded ringgit-rupiah
settlement framework. In general, the appointed banks are experienced in
facilitating trade and direct investment between the two countries, have a wide
customer base and have established strong business relationships with banks in
the counterparty country.
The appointed banks are as follows:
Malaysia
Additional appointed banks:HSBC
1. Bank Malaysia Berhad
2. MUFG Bank Malaysia Berhad
Existing appointed banks:
1. CIMB Bank Berhad
2. Hong Leong Bank Berhad
3. Malayan Banking Berhad
4, Public Bank Berhad
5. RHB Bank Berhad
Indonesia
Additional appointed banks:
1. PT Bank HSBC Indonesia
2. MUFG Bank Ltd, Jakarta branch
Existing appointed banks:
1. PT Bank Rakyat Indonesia (Persero) Tbk
2. PT Bank Mandiri (Persero) Tbk
3. PT Bank Central Asia Tbk
4. PT Bank Negara Indonesia (Persero) Tbk
5. PT Bank CIMB Niaga TbkPT Bank Maybank Indonesia Tbk
Bank Negara Malaysia
Bank Indonesia
2 August 2021
For media enquiries, please contact:
Bank Negara Malaysia
Strategic Communications Department
Bank Indonesia Communication Department
Tel: (62 21) 131
e-mail: bicara@bi.go.id
