clearing efficiency, Contact website: www.asianclearingunion.org Members Currently (2022), the members of ACU are the central banks of Bangladesh, Bhutan, Iran (not active owing to international banking sanctions), India, Maldives, Nepal, Pakistan, Sri Lanka, and Myanmar. The central banking authorities of member countries have issued detailed instructions and modalities for channeling the monetary transactions through the ACU. Membership in the ACU is open to central banks located in the geographical area of ESCAP and non-ESCAP. Eligible transactions All eligible transactions between member countries are required to be cleared through the Asian Clearing Union. The monetary transactions eligible to be settled through the Asian Clearing Union include the following: From a resident of one participant to a resident of another participant, Related to import and export of goods and services, Permitted by the country in which the payer resides, Not declared ineligible by the BOD or a participant. Instruments of Payment All instruments of payment denominated in AMUs (ACU dollar, ACU euro, and ACU yen), may be used to effect payment through the clearing facility. Figures Transactions channeled through the ACU mechanism in 2021 amounted to 29 billion USD. References www.asianclearingunion.org International trade organizations United Nations organizations based in Asia Treaties concluded in 1974 Iran and the United Nations