Asean central banks to improve settlement transparency
Principles will be implemented in four countries in February
The central banks of Malaysia, Philippines, Singapore and Thailand will be the first within the Association of Southeast Asian Nations (Asean) to implement a set of principles aimed at improving the level of transparency for cross-border trade settlements.
The Asean Central Banks' Working Committee on Payment and Settlement Systems (WC-PSS) adopted today the principles for product transparency and disclosure on cross-border trade settlement, according to a statement from the Bank of Thailand.
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