Thailand and Malaysia invite banks to operate across borders
Bank Negara Malaysia and the Bank of Thailand have opened the door for their banks to operate across the two jurisdictions, joining an initiative launched by the Association of Southeast Asian Nations (Asean).
Banks are invited to indicate their interest in the Qualified Asean Bank (QAB) status, which, once approved, would allow them to operate with greater flexibility across borders, the central banks announced on September 15.
The application process comes two years after BNM and the BoT
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