Prohibiting Facilitation of NDF Related Transactions
Bank Negara Malaysia would like to state that there is no change in the Foreign Exchange Administration (FEA) rules and there is no introduction of any new measures. Ringgit remains as a non-internationalised currency, thus any offshore trading of ringgit such as ringgit non-deliverable forward (NDF) is not recognized. The Bank is taking measures to reinforce existing rules that have been in place to prohibit facilitation of ringgit NDF. The Bank would like to remind all market participants to observe compliance with the existing FEA rules and the Malaysian licensed banks must avert from facilitating any foreign exchange (FX) transaction that could be related to offshore ringgit NDF market activities.
Malaysia FX market remains open and Bank Negara Malaysia stands ready to provide liquidity if necessary to ensure orderly market. Malaysia continues to welcome real investments and provide all avenues for FX transactions and hedging requirements onshore.
The public is advised to approach Malaysia licensed banks for all foreign exchange requirements. Foreign fund and asset managers should contact Malaysian licensed banks for advices and execution of any foreign exchange transactions. All Malaysian licensed banks will continue to facilitate customers’ request for foreign exchange services subject to compliance to FEA.
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Established in 1978, we take pride in being at the forefront of buying and selling foreign currencies in Sabah. As one of the very first money changers in the State fondly known as the Land Below the Wind,.
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Lot No. AG56, G/F Phase1, Wisma Merdeka, Jalan Tun Razak, Kota Kinabalu 88000, Sabah, Malaysia.