BNM: More measures to attract regional players

KUALA LUMPUR: Bank Negara Malaysia (BNM) will continue to introduce measures to broaden the participation of regional players in the domestic market through progressive liberalisation of the foreign exchange administration rules and the development of cross-border settlement infrastructure.

Its Governor Tan Sri Dr Zeti Akhtar Aziz said the measures would enable more efficient and cost-effective foreign currency trading and settlements. "We have the foundation to take our financial sector to a new level of development," she said in her keynote address at the Fixed Income, Money Market and Derivatives Association of India and Primary Dealers Association of India (FIMMDA-PDAI) Annual Conference 2012 here yesterday.

She said the development will focus on new areas that will further strengthen the competitiveness and efficiency of the financial sector and its potential role in facilitating Malaysia's ongoing economic transformation and strengthening linkages in the region. Bernama