Kuala Lumpur: Bank Negara Malaysia (BNM) will work with its ASEAN counterparts to encourage businesses to use local currencies in facilitating trade within the region, said Deputy Governor Datuk Marzunisham Omar. He noted that the central bank’s focus at the country level as ASEAN-Malaysia chairmanship this year is to look at how the region should come together to further strengthen inter-regional trade and investment flows.

According to BERNAMA News Agency, a series of discussions will take place during the upcoming ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) and related meetings to be held here beginning April 7 to 10, 2025. “Most of these will be announced during the week that we meet in April. There will be a series of panel discussions as well on these areas,” Marzunisham added.

During the panel discussion, Marzunisham highlighted that BNM is considering how the financial sector’s innovation can help further accelerate trade and investment flows within the region. He emphasized the progress made in areas such as QR payment systems and payment connectivity, which have encouraged tourism and trade settlement in local currencies with countries like Indonesia and Thailand. These efforts are part of Malaysia’s priorities as the ASEAN chair, focusing on building a more inclusive financial system to benefit the people in the region and financing major sustainable projects.