OVERNIGHT
POLICY RATE
3.00%
as at 06 Nov 2024
MGS 10 YEAR
YIELD
3.81%
as at 20 Nov 2024
MYOR
3.00%
as at 20 Nov 2024
KL USD/MYR
REF RATE
4.4680
as at 20 Nov 2024
Daily FX
Turnover
USD 19.30B
as at 20 Nov 2024
Payment in Ringgit

A non-resident is free to make or receive payment in ringgit in Malaysia, to or from a resident or a non-resident, for the following purposes:

Purpose of Use and Source of Funds Between Resident and Non-Residents Between
Non- Residents

Settlement of a ringgit asset including any income and profit due from the ringgit asset

Settlement of trade in goods

Settlement of services

Income earned or expense incurred, in Malaysia

Settlement of a commodity murabahah transaction between a resident and non-resident participant undertaken through a resident commodity trading service provider

Settlement of reinsurance for domestic insurance business or retakaful for domestic takaful business between a resident and a person licensed to undertake Labuan insurance or takaful business

  

For any purpose between immediate family members

A court judgement where the transaction under litigation or dispute is undertaken in compliance with the FEP Notices (e.g. debt repayment, damages, etc)

  

Payments or receipts by non-residents on behalf of non-resident clients using funds in External Accounts are allowed as follows:

By For the Purpose of

A non-resident financial institution on behalf of non-resident clients

Settlement of international trade in goods or services with a resident

A non-resident intermediary or non-resident financial institution acting as a custodian or trustee on behalf of resident or non-resident clients

Settlement of ringgit assets

A non-resident is free to undertake transactions to or from an External Account of RM10,000 per day, regardless of the purpose. However, this limit does not apply (i.e. non-resident is free to undertake transactions for any amount) for:

  1. Any cash withdrawal over-the-counter from an External Account.
  2. A consulate, a high commission, an embassy, an individual participating in the Malaysia My Second Home Programme, or an individual who is working or studying in Malaysia including the individual’s spouse, child or parent who is staying in Malaysia.
  3. Transfer between External Accounts of the same account holder.
  4. Where the uses and sources of funds are permitted in accordance with the Foreign Exchange Policies (documentary evidence should be provided to financial institutions for verification purpose, as and when required).
Further Information

Notice 4- Payment and Receipt >

Frequently Asked Questions >