BNM, MYCLEAR LAUNCH NEW RENTAS SYSTEM
KUALA LUMPUR: Bank Negara Malaysia (BNM) and its wholly owned subsidiary Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) has launched a new Real-time Gross Settlement and Debt Securities Depository (Rentas) System. Rentas has now adopted global standards and is connected to the Society for Worldwide Interbank Financial Telecommunication’s (Swift) worldwide messaging network. With the launch of new Rentas, Malaysian banks as well as offshore financial institutions will enjoy cost-effective, efficient, and secure access to Malaysia’s financial market infrastructures via Swift’s international network. The new Rentas will offer comprehensive multi-currency settlement and debt securities depository capabilities with ringgit, US dollar and renminbi as the initially supported currencies.