Wahyu Dwi Anggoro
IDXChannel - The Indonesian Consulate General (KJRI) in Penang and the Bank Indonesia (BI) Representative Office in Singapore held a socialisation activity on the implementation of the use of local currency or Local Currency Settlement (LCS) in Penang, Malaysia on 11 September.
Acting Counsellor General in Penang, Kiki Tjahjo Kusprabowo explained that in 2022 there will be around 178,132 foreign patients seeking medical services in Penang Hospital and 90% of them are Indonesian citizens.
"The Indonesian Penang Representative welcomed the Indonesia-Malaysia LCS cooperation framework which is believed to be very helpful for the two countries' efforts to increase mutually beneficial economic cooperation through the use of local currencies," he said in a media release on Tuesday (12/9/2023).
Executive Analyst of BI Office in Singapore, Bayu Dwi Atmanto in his speech said that BI together with the LCS National Task Force continues to intensify socialisation to stakeholders who can take advantage of the LCS framework, especially with Malaysia.
The hospital sector in Penang, among others, can be a potential user of the LCS for service trade transactions given the high number of Indonesian citizens (WNI) who use health services in various hospitals in Penang.
