Malaysia, Indonesia and Thailand Expand Local Currency Trade Network

Bank Negara Malaysia, Bank Indonesia, and the Bank of Thailand have expanded their Local Currency Transaction Framework (LCTF) by appointing additional Appointed Cross-Currency Dealers (ACCDs) to boost local currency settlements. This initiative enhances regional market access to local currency liquidity and supports trade and investment across Malaysia, Indonesia, and Thailand. The new ACCD network includes leading banks such as AmBank, OCBC, Bank of China, and Sumitomo Mitsui. The move follows enhancements to the LCTF and is part of the three central banks’ broader efforts to deepen ASEAN financial integration and reduce reliance on foreign currencies in cross-border trade.