The Hong Kong Monetary Authority and the Central Bank of Malaysia strengthen bilateral cooperation.

On 2 October, the Hong Kong Monetary Authority (HKMA) and the Central Bank of Malaysia held a high-level bilateral meeting in Hong Kong. The two central banking institutions exchanged information and experience and held comprehensive discussions covering macroeconomic and financial developments, emerging banking regulatory issues, fintech and payment transformation, as well as advancing capital market connectivity, regional local currency usage and Islamic finance. Both sides agreed to strengthen bilateral cooperation in the following areas: Fintech and digital asset innovation Establish a policy-focused joint working group to promote compliant cross-border stablecoin use cases between Hong Kong and Malaysia. Strengthen cooperation on tokenisation and digital currencies, including promoting policy and regulatory exchanges between the two places. Explore cooperation opportunities for data-based applications and promote relevant knowledge sharing, including the Commercial Data Interchange (CDI) and CargoX, to expand SMEs' access to trade financing in both places. Cross-border regulatory cooperation Establish mechanisms to strengthen cross-border cyber resilience and efforts to combat scams and fraud. Regional local currency usage and infrastructure connectivity Jointly promote broader use of regional local currencies in bilateral trade and investment. Strengthen connectivity between Hong Kong's and Malaysia's Real Time Gross Settlement (RTGS) systems. Capital market connectivity Explore establishing a link between Hong Kong's Central Moneymarkets Unit (CMU) and Malaysia's Real-time Electronic Transfer of Funds and Securities System (RENTAS). Strengthen cooperation to advance the development and connectivity of the Islamic finance market, including through supporting industry exchanges, talent development, sustainable finance and cross-border investment. HKMA Chief Executive Eddie Yue said: "We are pleased to welcome the delegation from the Central Bank of Malaysia to Hong Kong. This high-level meeting marks an important milestone in deepening cooperation between our two institutions to support financial market development and economic growth. Building on our shared vision, we look forward to advancing cooperation in fintech and digital asset innovation, enhancing the efficiency of cross-border regional local currency transactions, strengthening market connectivity, and promoting the growth of the Islamic finance market."