Dear Valued Customer,

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:

  • your Foreign Currency Account (FCA)/ Master Foreign Currency Account (MFCA)/ Foreign Currency Account-i (FCA-i)/ Master Foreign Currency Account-i (MFCA-i) which are opened with us to receive foreign currency proceeds from non-export activities, will now be re-classified as FCA 1/MFCA 1/ FCA-i 1 / MFCA-i 1 ("Investment FCA/MFCA/FCA-i /MFCA-i"), and your FCA/MFCA/FCA-i/MFCA-i which are opened with us to receive foreign currency export proceeds, will now be re-classified as FCA 2/MFCA 2/ FCA-i 2/ MFCA-i 2 (‘Trade FCA/MFCA/FCA-i/MFCA-i'). There is no change to your account number(s) and this exercise will be carried out at no costs to you. The current fees and charges shall remain;
  • up to 25% of the foreign currency export proceeds shall be retained in the Trade FCA/MFCA/FCA-i/MFCA-i; and
  • the balance, unless otherwise instructed on the same day of receipt of the foreign currency export proceeds, shall be converted into MYR (at such rate as is applicable at the time), and shall be credited into a Special Deposit Facility / Special Deposit Facility-i Account (‘SDF / SDF-i Account') that we will open for you, based on the existing mandate of your FCA/MFCA/FCA-i/MFCA-i.

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 / Terms and Conditions Governing Banking Accounts for Islamic Banking.

If you are a non-resident, the above measures do not apply to you. In this regard, in the event of any change in your residential status, please ensure that you notify us immediately.

For more information on the above measures by BNM, kindly refer to its website at www.bnm.gov.my.

Should you require further clarification or assistance, please do not hesitate to contact our respective branches or Maybank Customer Care hotline at 1300 88 6688 or 603-7844 3696 (overseas). Our representatives will be more than happy to assist you.


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