Master Foreign Currency Account-i

A Shariah-compliant account opened and maintained in a foreign currency

Effective 10 Dec 2016, all existing Islamic Foreign Currency Account-i (FCA-i) held by Individuals, Small & Medium Enterprise (SME), Business Banking (BB) and Global Banking (GB) customers will be upgraded to the Master Foreign Currency Account-i (MFCA-i)

Master Foreign Currency Account-i (MFCA-i) is an account that supports multiple foreign currency with the same purpose code.
Minimum deposit: USD1,000 or equivalent (for individuals), Any amount (for non-individuals)

*Eligible for protection by PIDM

As you are aware, Bank Negara Malaysia (‘BNM') recently issued a Supplementary Notice on Foreign Exchange Administration Rules to introduce new measures to promote the development of Malaysian Financial Market. Under these new measures (which have taken effect from 5 December 2016), a resident exporter is allowed to retain up to 25% of foreign currency exports proceeds, and is required to convert the balance into Ringgit (‘MYR') with a licensed onshore bank.

To facilitate the above, and in compliance with BNM's directive, with effect from 12 December 2016:

The operations of the SDF/SDF-i Account shall be in compliance with the regulations imposed by BNM from time to time, and shall be governed by the Terms and Conditions Governing Banking Accounts for Islamic Banking.


Features

Service Availability

Transaction transfer limit

Who can apply

Required documents

For Personal/Joint accounts

Please also bring along any of the following secondary supporting documents:-

Please choose a branch located near your home or place of work.

Fees & charges

Service charge for credit/debit transaction (depending on the currency): USD$4 or its equivalent

Required documents

For Personal/Joint accounts

Please also bring along any of the following secondary supporting documents:-

Please choose a branch located near your home or place of work. 

Fees & charges

Service charge for credit/debit transaction (depending on the currency): USD$4 or its equivalent

View all banking fees


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for FAQ

 

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