Dear Valued Customers,

We wish to inform that Malayan Banking Berhad / Maybank Islamic Bank will no longer be offering the SDF/SDF-i Account from 1st January 2018.

From 1st January 2018, all converted Ringgit export proceeds will be credited into your current account/Daily Fund-i account maintained with us. If you do not have a current account/Daily Fund-i account with us, please contact your Trade Master Foreign Currency Account (MFCA)/Master Foreign Currency Account-i (MFCA-i) Maybank/Maybank Islamic home branch and an account will be opened for you. You are advised to do so immediately.

To facilitate smooth operational transition, any outstanding SDF account balances as at 31 December 2017 will continue to earn a 3.10% rate of return per annum from 1st January 2018 up to 31st March 2018 only. For SDF-i, the hibah given is at the Bank's sole discretion. The disclosure on the hibah to the customer is based on historical information and shall not be construed in any way as an indicative or prospective rate.

Notwithstanding the above, the requirement by Bank Negara Malaysia for all resident exporters to convert a minimum of 75% of their total export proceeds into Ringgit Malaysia still remains.

We thank you in advance for your kind cooperation and understanding.

 

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