Hong Kong Strengthens Financial Collaboration with Malaysia

Hong Kong Strengthens Financial Collaboration with Malaysia

by May 28, 2024

The Hong Kong Monetary Authority (HKMA) delegation, led by Chief Executive Eddie Yue, concluded a three-day visit to Kuala Lumpur, Malaysia, aimed at strengthening financial collaboration between the two countries.

During the visit, the delegation held bilateral meetings with Bank Negara Malaysia (BNM), focusing on strategic areas such as digital finance, fintech, green and sustainable finance, payment systems, the use of local currencies for cross-border trade, and Islamic finance.

Representatives from both the HKMA and the BNM also participated in the Malaysia Business Forum, organised by the Hong Kong Association of Banks

The forum, attended by over 160 senior representatives from leading local and international banks, provided a platform to discuss financial cooperation and topics of mutual interest between Malaysia and Hong Kong.

The delegation also met with key business and financial leaders in Malaysia to explore new opportunities arising from the strengthening economic and financial ties between the two regions.

Eddie YueHong Kong Malaysia

Eddie Yue

 “Hong Kong and Malaysia share a vision of promoting regional economic cooperation, fintech innovation, and climate transition. As the gateway to the Mainland and a leading economy in ASEAN, respectively, Hong Kong and Malaysia are well positioned to work together to drive closer partnership and sustainable growth across the entire Asia region,”

said Eddie.

This visit is part of the HKMA’s ongoing efforts to expand its global network. Following successful visits to Thailand, Saudi Arabia, and the United Arab Emirates earlier this year, the HKMA plans to continue its engagement with the Middle East and other ASEAN countries to maintain and further strengthen Hong Kong’s status as an international financial centre.

Featured image credit: Edited from HKMA