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Central banks of China and Malaysia signed a memorandum on the organization of payments in RMB

The People's Bank of China and the National Bank of Malaysia signed a memorandum of cooperation on organizing yuan settlements in the Malaysian capital - Kuala Lumpur, Xinhua news agency reported.

In the near future, the bank will be determined, through which the calculations will be conducted in RMB in Kuala Lumpur.

This step will benefit the use of enterprises and financial institutions of China and Malaysia and will facilitate the simplification of trade and investment procedures.

This is the third such agreement, signed in November. Earlier, agreements on yuan settlements in Doha (Qatar) and Toronto (Canada) were reached. Thus, outside of mainland China, calculations in RMB are possible, in addition to Hong Kong, Macao and Taiwan, also in Singapore, London, Frankfurt, Seoul, Paris, Luxembourg, Doha, Toronto and Kuala Lumpur.

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