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Thailand, Malaysia to negotiate on banking integration

( March 15, 2016, 05:42 GMT | Insight) -- Bank of Thailand and Bank Negara Malaysia have signed a heads of agreement under the Qualified Asean Banking framework, launching negotiations on a tentative deal to allow Thai and Malaysian banks to operate in Malaysia and Thailand, respectively, with the same status as a local bank, the Bangkok Post reports. Bank of Thailand and Bank Negara Malaysia have signed a heads of agreement under the Qualified Asean Banking framework, launching negotiations on a tentative deal to allow Thai and Malaysian banks to operate in Malaysia and Thailand, respectively, with the same status as a local bank, the Bangkok Post reports. The signing marks Thailand’s first engagement under the Asean Banking Integration Framework to open up local the banking sector to fellow Asean competitors. Malaysia currently operates two banks in Thailand: a branch of RHB Bank and operations under CIMB Group.   ...

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