Signing of Memorandum of Cooperation between Ministry of Finance of Japan and BNM on Cooperation to Promote Settlements in Local Currencies

null Signing of Memorandum of Cooperation between Ministry of Finance of Japan and BNM on Cooperation to Promote Settlements in Local Currencies

Signing of Memorandum of Cooperation between Ministry of Finance of Japan and BNM on Cooperation to Promote Settlements in Local Currencies

The Ministry of Finance of Japan and Bank Negara Malaysia signed a Memorandum of Cooperation (MoC) to initiate a framework of cooperation to promote the settlement of trade and investment in local currencies.

Under the MoC, both authorities have reached mutual agreement on initiatives relating to the promotion of the use of local currencies in eligible cross-border transactions. This cooperation will be enhanced through information sharing and periodical discussions between the Japanese and Malaysian authorities.

This collaboration marks a key milestone in strengthening bilateral financial cooperation between Japan and Malaysia. The authorities believe that it will positively contribute to closer trade and investment ties between the two countries.

Bank Negara Malaysia
Ministry of Finance, Japan