Existing

New

No restriction on foreign exchange contracts between authorised dealers and non-residents.
 

No change, except for External Account holders.
ECM 13 : Import and Export of Currency Notes, Bills of Exchange, Assurance Policies, etc.

A traveller (resident and non-resident) was freely allowed to import or export any amount of ringgit notes or foreign currency notes, which are on his person or in his baggage.
   

Export of foreign currencies requires approval.
   

Authorised dealers were allowed to import any amount of ringgit notes, subject to reporting on a monthly basis to Bank Negara Malaysia.
 

A resident traveller is permitted to import :

  • Ringgit notes up to RM1,000 only; and

  • Any amount of foreign currencies.
   

A resident traveller is permitted to export :

  • Ringgit notes up to RM1,000 only; and

  • Any amount of foreign currencies up to the equivalent of RM10,000.
   

A non-resident traveller is permitted to import :

  • Ringgit notes up to RM1,000 only; and

  • Any amount of foreign currencies.
   

A non-resident traveller is permitted to export :

  • Ringgit notes up to RM1,000 only; and

  • Foreign currencies up to the amount of foreign currencies brought into Malaysia.
   

Prior approval is required for the import and export of ringgit notes and the export of foreign currency notes, other than as permitted above.
   
Transitional Provision
   

Up to September 30, 1998, permission is given to a traveller (resident and non-resident) to import any amount of ringgit on his person or in his baggage.
ECM 15 : Labuan International Offshore Financial Centre


Licensed Offshore Banks were allowed to trade in ringgit investments up to permitted limits.
 

Licensed Offshore Banks are no longer allowed to trade in ringgit instrument.





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