Bank Negara Malaysia (BNM), Bank Indonesia (BI) and the Bank of Thailand (BOT) have announced the appointment of additional qualified commercial banks to operationalize the Local Currency Transaction Framework (LCTF).

These qualified banks, known as Appointed Cross-Currency Dealers (ACCDs), will facilitate cross-border settlement of trade and investment between the respective countries, the central banks said in a statement on Wednesday.

This initiative follows several enhancements to the LCTF announced on February 17, 2025.

The expanded ACCD network will strengthen customer outreach, enhance market access to local currency liquidity, provide businesses with enhanced options for cross-border transactions between Malaysia, Indonesia and Thailand.

BNM, BI, and BOT continue to support trade and investment growth through closer financial collaboration under the LCTF.

The newly appointed banks are listed below:
MYR-IDR LCTF
Malaysian Banks:
AmBank (M) Berhad
Bank of China (Malaysia) Berhad
OCBC Bank Malaysia Berhad
Standard Chartered Bank Malaysia Berhad
Sumitomo Mitsui Banking Corporation Malaysia Berhad
Indonesian Banks:
PT Bank Danamon Indonesia Tbk
PT Bank OCBC NISP Tbk
PT Bank Pembangunan Daerah Jawa Timur Tbk
Bank of China (Hong Kong) Limited Jakarta Branch

MYR-THB LCTF
Malaysian Banks:
AmBank (M) Berhad
Bank of China (Malaysia) Berhad
Hong Leong Bank Berhad
OCBC Bank Malaysia Berhad
Sumitomo Mitsui Banking Corporation Malaysia Berhad
Thai Bank:
Bank of China (Thai) Public Company Limited

IDR-THB LCTF
Indonesian Banks:
PT Bank OCBC NISP Tbk
Bank of China (Hong Kong) Limited Jakarta Branch
Thai Bank:
Bank of China (Thai) Public Company Limited

Malaysian Central Bank launches Digital Asset Innovation Hub