KUALA LUMPUR: Bank Negara and the Bank of Korea have renewed the bilateral swap arrangement (BSA) for a period of three years.
In a joint statement, the central banks said the size of the arrangement was maintained at RM15bil/KRW5 trillion, which follows the BSA signed in 2020.
It said the swap arrangement can be extended by mutual agreement between the two banks.
"The BSA is aimed at further promoting bilateral trade between the two countries and strengthening the financial cooperation between Malaysia and Korea," it added.
