File photo of a general view of the Bank Negara Malaysia in Kuala Lumpur, Malaysia, March 8, 2016. REUTERS/Olivia Harris/File Photo
KUALA LUMPUR: Bank Negara said seven global banks have attested that they are not and will not engage in non-deliverable forward (NDF) related transactions.
“The seven have attested to this and they are global banks,” assistant governor Adnan Zaylani Mohamad Zahid told a media briefing in Kuala Lumpur on Friday.
About two weeks ago, Bank Negara had requested through onshore banks that any non-resident banks which transact in the foreign exchange market, to attest that they are not and will not engage in NDF related transactions.
It came up with the measure as ringgit transactions in the NDF market had a damaging influence on the onshore pricing of the local currency.
“We have had discussions with a few other banks (as well),” he said, adding, BNM was pleased to see the outcome of the measures taken. - Bernama
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