Photo Release: KBank designated as clearing agent for Ringgit-Baht payment in Malaysia

Stocks and Financial Services Press Releases Tuesday March 29, 2016 14:11
Bangkok--29 Mar--KASIKORNBANK

Recently, Dr. Veerathai Santiprabhob, the Governor of the Bank of Thailand, fourth right; Dr. Zeti Akhtar Aziz, the Governor of the Bank of Negara Malaysia, fourth left; and Mr. Predee Daochai, President of KASIKORNBANK, second right; along with executives from CIMB and Bangkok Bank, participated in a signing ceremony to designate commercial banks as clearing agents for Baht-Ringgit settlements. This agreement will encourage Thai and Malaysian entrepreneurs to use the Ringgit and Bath to pay for their trade and investment transactions, by mitigating risks from currency turbulence and reducing transaction costs for the business sector. Services, which include deposits, trade finance credits, and hedging tools, among others, are now available at KBank and other appointed Thai commercial banks in Kuala Lumpur.


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