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Thailand, Malaysia open for banks to be qualified ASEAN banks

BANGKOK : The central banks of Thailand and Malaysia are open for banks in both countries to apply to be Qualified ASEAN Banks (QAB) following their bilateral arrangement under the ASEAN Banking Integration Framework.

The qualified banks are envisioned to help increase trade and investment within Southeast Asia, in accordance with the ASEAN Economic Community Blueprint 2025, the 10-member bloc's plan to create an integrated economy, both central banks said in a joint statement https://www.bot.or.th/English/AboutBOT/Activities/Pages/JointPress_14092021.aspx on Tuesday.

(Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by Martin Petty)

Source: Reuters

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