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BoT nears QAB deal with Malaysians

Veerathai: SMEs starting to hedge

The Bank of Thailand expects to reach a conclusion with Bank Negara Malaysia on long-awaited Qualified Asean Banking (QAB) criteria soon, paving the way for indigenous banks in one country to operate in the other and receive similar treatment as local banks.

The central bank is also in the process of negotiating with the Indonesia Financial Services Authority and the Central Bank of Myanmar on the establishment of QABs with those countries, said Bank of Thailand governor Veerathai Santiprabhob.

"We are negotiating with the three central banks, but the agreement with Malaysia should soon be finalised," he said.

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