Five ASEAN countries to connect to payment system in 2023
A cross-border payment system between the five ASEAN countries of Thailand, Singapore, Malaysia, the Philippines, and Indonesia will be fully connected next year, according to Bank Indonesia (BI) Governor Perry Warjiyo.
Jakarta (VNA) – A cross-border payment system between the five ASEANcountries of Thailand, Singapore, Malaysia, the Philippines, and Indonesia willbe fully connected next year, according to Bank Indonesia (BI) Governor PerryWarjiyo.
Perry said on October 5 that Indonesia has linked the paymentsystem with Thailand and will soon link it with Malaysia and Singapore. But hedid not provide details about the deal with the Philippines.
In late August, BI and the Monetary Authority of Singapore(MAS) agreed to cooperate on QR code payments between the two countries toencourage payment connectivity in ASEAN.
This initiative marked an important milestone instrengthening financial collaboration between the two nations./.
Bank Indonesia (BI) together with the Bank of Thailand (BoT) on August 29 inaugurated the implementation of a cross-border QR Code-based payment linkage between the two countries.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
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Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Photo: jakartaglobe.id) 
